STMicro, Ericsson lay out plan to close mobile chip unit

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. ...

via Tech News Headlines - Yahoo! News http://news.yahoo.com/stmicro-ericsson-lay-plan-close-mobile-chip-unit-072611359--finance.html