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STMicroelectronics NV To Exit ST-Ericsson Mobile Chip Venture; To Work With Ericsson To Find Suitable Strategic Solution For JV-Reuters

Monday, 10 Dec 2012 02:36am EST 

Reuters reported that STMicroelectronics NV planned to exit its loss-making mobile chip joint-venture ST-Ericsson as part of its new strategic plan announced on Monday. STMicroelectronics did not provide specifics on its exit, saying only that it was already in negotiations on options and that the transition would be completed by the end of the third quarter of 2013. In a separate statement, Ericsson, STMicroelectronics' partner in the mobile chip joint venture, said that it would work with its partner to find a suitable strategic solution for the joint venture.