Ericsson to write off $1.2B on ST-Ericsson JV

12/20/2012 | Bloomberg

Ericsson plans to take a noncash charge against earnings of $1.2 billion in this quarter to write off the value of its joint venture with STMicroelectronics to develop wireless communications chips. STMicroelectronics plans to leave the joint venture, and Ericsson is considering its options for ST-Ericsson, such as shuttering the operation.

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