Global: STMicroelectronics and Ericsson to Split up

st ericssonEricsson and STMicroelectronics have announced the companies will split up its business together as ST-Ericsson. The two companies will split the business, which has never made a profit, between them. Some facilities will be closed.

The agreed split up will see Ericsson take on the design, development and sales of LTE multimode thin modem products, including 2G, 3G and 4G multimode. ST will take on the other ST-Ericsson products and related businesses. The transfer of ownership is expected to be completed during the third quarter, subject to regulatory approval.

The remaining parts of ST-Ericsson will be closed down,  losing between 500 and 700 jobs in Europe, with 400-600 in Sweden and 50-80 in Germany.

 


Trackback from your site.

Editorial Staff @portada_online

Portada Staff

MORE FROM PORTADA

Amazon, Wal-Mart Drawing the Largest Numbers of Online Hispanic Shoppers in US

Amazon, Wal-Mart Drawing the Largest Numbers of Online Hispanic Shoppers in US

We looked at the top 15 online retail sites visited by Hispanic shoppers in the US and how they scored in number of visitors in May 2018.


Dentsu Aegis Network Acquires Agency Global Mind

Dentsu Aegis Network Acquires Agency Global Mind

This is the third Latin American acquisition this year after the Japanese giant acquired M8 and White Label in April. Global Mind will triple the headcount of iProspect and strengthen Dentsu Aegis' pan-regional reach. 


4 Truths and One Lie About Multicultural Marketing According to Mel Rodriguez & Co, Starcom, Walton Isaacson…

4 Truths and One Lie About Multicultural Marketing According to Mel Rodriguez & Co, Starcom, Walton Isaacson…

We talked to Melissa Rodriguez, Dana Bonkowski, Albert Thompson, and Teylez Perez about the future of brands in an increasingly multicultural world. Reports estimate that by 2065 Hispanics will account for one-quarter of U.S. population. Brands should be aware of this opportunity and find appropriate communication strategies.