Ericsson and STMicroelectronics have agreed to merge mobile platforms Ericsson and STMicro-NXP wireless in a 50:50 joint venture with the acquisition of STMicro NXP 20% stake in STMicro-NXP.
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The company said the fabless joint venture based in Geneva, Switzerland 8000 people use for the design, development, and the creation of mobile platforms and wireless semiconductors for Nokia, Samsung, Sony Ericsson, LG, and Sharp.
STMicro will contribute its multimedia and connectivity options, its 3G platform 2G/EDGE offers and customer relationships with Nokia, Samsung, Sony Ericsson and, while Ericsson will contribute its 3G and LTE platform technology and customer relationships with Sony Ericsson, LG, and Sharp.
Carl-Henric Svanberg, President and CEO Ericsson, said: "By combining the complementary strengths and offers of Ericsson and STMicro, the joint venture is well positioned to become a world leader. The industry continues to grow at a fast pace and customers see benefits from our broad offer."
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