2012-12-10 07:53:20 -
Ericsson (NASDAQ:ERIC) today announced that it will continue to work together
with STMicroelectronics (NYSE:STM) to find a suitable strategic solution for the
two companies Joint Venture ST-Ericsson. STMicroelectronics has today announced
its intention to exit as a shareholder in ST-Ericsson.
ST-Ericsson announced its strategic plan in April 2012 and is in the middle of
executing on company transformation aiming at lowering its break-even point and
introducing new technologies. Ericsson continues to believe that the modem
technology, which it originally contributed to the Joint Venture, has a
strategic value for the wireless industry. For Ericsson, a key priority in this
process is a successful market introduction of the new LTE modems that it is
certain will be very competitive and needed in the market.
During the process Ericsson will not speculate on the possible outcomes,
and future ownership structures of ST-Ericsson.
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92
Ericsson Investor Relations
Phone: +46 10 719 00 00
Ericsson discloses the information provided herein pursuant to the Securities
Markets Act and/or the Financial Instruments Trading Act. The information was
submitted for publication on December 10, 2012, at 07.50.
Ericsson starts negotiations on ownership of ST-ericsson:
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Source: Ericsson via Thomson Reuters ONE