Ericsson, STMicro merge wireless chips
Thursday, 21 August 2008
PARIS/STOCKHOLM, Aug 20 (Reuters): Ericsson and STMicroelectronics have agreed to join their wireless chip and software businesses to create a joint venture that will supply four of the world's top five cell phone makers.
The new company, announced on Wednesday, will bring together the Mobile Platforms unit of Ericsson, the world's biggest mobile telecoms equipment maker, and ST-NXP wireless, the third-largest maker of wireless chips globally.
With pro-forma 2007 revenues or US$3.60 billion, the venture will present a tougher challenge to wireless chip market leader Qualcomm and number two Texas Instruments. Ericsson and ST-NXP Wireless already cooperate with one another.
The new company, announced on Wednesday, will bring together the Mobile Platforms unit of Ericsson, the world's biggest mobile telecoms equipment maker, and ST-NXP wireless, the third-largest maker of wireless chips globally.
With pro-forma 2007 revenues or US$3.60 billion, the venture will present a tougher challenge to wireless chip market leader Qualcomm and number two Texas Instruments. Ericsson and ST-NXP Wireless already cooperate with one another.