Reuters: Technology News: STMicro, Ericsson lay out plan to close mobile chip unit

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STMicro, Ericsson lay out plan to close mobile chip unit Mar 18th 2013, 07:54 Tweet Share this Email Print Related News French and Benelux stocks-Factors to watch on March 13 Wed, Mar 13 2013 UPDATE 1-ST-Ericsson CEO to step down as overhaul looms Mon, Mar 11 2013 People walk past an ST-Ericsson stand at the Mobile World Congress in Barcelona February 25, 2013. Credit: Reuters/Albert Gea PARIS | Mon Mar 18, 2013 3:31am EDT PARIS (Reuters) - STMicroelectronics and Ericsson will close down their mobile chip joint venture ST-Ericsson by dividing up certain product lines and employees and shutting others. Sweden's Ericsson, which manufactures telecom network gear, will keep some 1,800 employees mostly in Sweden, Germany, India and China and the making of LTE multimode thin modem products. Franco-Italian chip maker STMicro said on Monday it will keep other existing ST-Ericsson products, without providing details, as well as certain assembly and test facilities. It will take on some 950 employees mostly in France and Italy. The rest of the business, which had 5,000 employees globally before these moves, will be shut down. STMicro said it expected $350-450 million in cash costs during the process. (Reporting by Leila Abboud; Editing by Mark Potter) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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