Ericsson and STMicroelectronics have agreed to break up their unprofitable joint venture, which they established in 2009 to design mobile broadband chips, after being unable to find a buyer for ST-Ericsson. Ericsson will regain the JV's Long-Term Evolution multimode modem technology and take on about 1,800 of ST-Ericsson's 4,350 employees and contractors. ST will assume most of the remainder of ST-Ericsson's product line and give jobs to 950 people, leaving about 1,600 to find themselves without jobs following the break-up of the joint venture.
Ericsson, ST come to terms on dismantling chip JV
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