STMicro, Ericsson split mobile chip unit, 1,600 jobs go

By Leila Abboud and Niklas Pollard PARIS/STOCKHOLM (Reuters) - STMicroelectronics and Ericsson will close their loss-making mobile chip joint venture ST-Ericsson by dividing parts of the business between them and shutting the rest with the loss of about 1,600 jobs. The announcement ends months of speculation about the future of ST-Ericsson, which has been hit by a big drop in orders from top customer Nokia as the phone maker lost market share to Apple and Samsung. ...

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