Struggling chip maker ST-Ericsson is to be shut down and dismantled, parent companies STMicroelectronics and Ericsson said Monday.
The disintegrating joint venture between STMicroelectronics and Ericsson, ST-Ericsson, has completed its restructuring and the transfer of business, assets and employees to Ericsson, STMicroelectronics and third party buyers.
The Informer got a software update for his Nexus this week and the resulting tweaks to the interface led him accidentally to the data usage display. He was somewhat surprised to find that the second most data-hungry app on his phone was Google+, a service he has never used. Over a ten-day period Google+ huffed back 5.54MB of data over the mobile network, all of it in the background. This might not sound like much but it’s all relative; roughly one per cent of the monthly allowance, Google+ usage outstrips Facebook by some margin and leaves Gmail in the dust. And it’s worth repeating: This app has never been used.
The president and CEO of embattled chip manufacturer ST-Ericsson resigned on Monday as the company’s parents continue to struggle through divorce proceedings.
Ericsson said that the charge includes write down of assets to reflect the current best estimate of Ericsson’s share of the market value of the firm, as well as additional charges related to the available strategic options for the future of ST-Ericsson’s assets.
Troubled chip vendor ST-Ericsson is to lose one of its parents, as the company looks for a way to turn its fortunes around.
European manufacturer STMicroelectronics said it has taken the decision to exit ST-Ericsson and is currently in negotiations on exit options.
Embattled chipset firm ST-Ericsson has agreed to transfer its R&D division based in Linköping, Sweden, to local IT consultancy Cybercom. The move follows recent speculation regarding the future of ST-Ericsson, the 50/50 joint venture between Ericsson and STMicroelectronics, as the company battles with rising losses and suggests more changes are still to come.
Swedish equipment vendor Ericsson has seen its profit drop 63 per cent year-on-year in 2Q12. The bottom line figure stood at SEK1.2bn ($171m), compared with SEK3.2bn in the same period a year earlier. Notably, in 1Q12, the firm recorded $8.8bn in profit.
Handset player Nokia has signed a deal with ST-Ericsson in a move that will see the chipset vendor’s NovaThor mobile application platform used in future Windows Phone devices.
The International Multimedia Telecommunications Consortium (IMTC) has completed what it says is the first ever voice over LTE (VoLTE) test on a live LTE infrastructure. The test, which took place at the SuperOp annual telecoms testing event in Hawaii, involved key industry players Ericsson, Huawei, Samsung, Intel Mobile and ST Ericsson, among others.
An internally distributed study undertaken by China’s Ministry of Commerce reportedly suggests imminent action against the EU for its subsidisation of major telecoms infrastructure companies.
Mobile operating system Android continues to win support, with chip makers ST-Ericsson and Broadcom this week announcing mobile platforms catering to the OS.
Swedish infrastructure vendor Ericsson reports its financial results next week, but statements from its two joint ventures on Friday do not bode well for the firm.
Handset behemoth Nokia extended its relationship with chip shop ST-Ericsson on Friday, announcing a long term partnership over China’s homebrew TD-SCDMA platform.
Swedish infrastructure and equipment vendor Ericsson took a beating during the third quarter of 2009, watching its net income dive 74 per cent year on year, dragged down by poor demand and further hits from its joint ventures.
Swedish vendor Ericsson’s other joint venture, chip firm ST-Ericsson, continues to drag on the company’s earnings, but like Sony-Ericsson’s losses, at least they’re moving in the right direction.
Profits for the quarter to end June fell to SEK800m, from SEK2bn in the same period last year. Net sales however, were up 7 per cent year on year to SEK52.1bn.
The Informer keeps seeing these financial crisis-induced marketing emails that say things like: “Now is the perfect time to innovate!” or “Now is the perfect time to implement this cost management solution!”. But it strikes the Informer that what now is really the perfect time for is to be a Chinese equipment vendor. While all the other vendors are loosening their collars and tightening their belts, and shedding staff like a dog sheds hair (unless it’s a Portuguese Water Dog, of course), the Chinese vendors are having a right old knees-up.
On Thursday, Swedish kit vendor Ericsson recorded a 30 per cent drop in net profit for the first quarter of 2009, coming in at SEK1.8bn (Eur168m) compared to SEK2.6bn in the same period last year.
The chip giant formed of the merger of STMicroelectronics and the mobile platform division of Ericsson was reborn on Thursday as ST-Ericsson. Acknowledged by analysts as the biggest consolidation in the chipset market so far, the 50/50 joint venture claims to have the industry’s strongest product offering in semiconductors, supplying components to Nokia, Samsung, Sony [...]