Ericsson and STMicro complete JV

STMicroelectronics and Ericsson have announced the closing of their agreement merging Ericsson Mobile Platforms and ST-NXP Wireless into a 50/50 joint venture.

Ericsson net profit sinks 61% in 2Q09

Mobile equipment giant Ericsson blamed the global economic situation and restructuring charges for a 61 percent decline in net profit in the second quarter.

STMicroelectronics posts larger 2Q loss

Swiss chip-maker STMicroelectronics has posted a wider net loss for its second quarter as revenue declined, but said its results reflect “solid progress across several key fronts” and sales were better than planned.