ST gets NXP then sells that stake to EMP. Yes we are talking about ST-NXP Wireless which is now called ST Ericsson. Ericsson with its hands fulll with Sony Ericsson now has to deal with a new baby.Ericsson contributed $1.1bn to the joint venture, with around $700m of that going to ST so that it can buy out the remaining 20 per cent it didn't own of the NXP Wireless business.
Created as a fabless company, ST-Ericsson will utilize the wafer-processing capabilities of ST Micro. ST-Ericsson is a supplier to four of the top five handset manufacturers (Nokia, Samsung, Sony Ericsson, and LG), had combined pro-forma revenues of about $3.6 billion in 2008, and has a solid cash position of $400 million.
Almost 85% of ST-Ericsson's 8000 employee workforce is in R&D. Headquartered in Geneva, Switzerland, the company also has full access to assembly and test facilities operated by ST.
ST-Ericsson will focus on platforms for GSM, EDGE, WCDMA, HSPA, as well as TD-SCDMA and LTE.
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