GENEVA--(Marketwire - Oct 9, 2012) - Following recent speculations in the market regarding the future of ST-Ericsson, the 50/50 joint venture between Ericsson (NASDAQ: ERIC) and STMicroelectronics (NYSE: STM), Ericsson and STMicroelectronics make the following comments.
ST-Ericsson announced its strategic plan in April and is in the middle of executing on company transformation aiming at lowering its break-even point. It is natural for the parent companies to continuously review the strategy of the company.
The two parent companies, together with ST-Ericsson, are currently working with an external advisor in order to ensure the best possible future for ST-Ericsson. Both STMicroelectronics and Ericsson support ST-Ericsson in its transformation work and remain confident that the company has a strategic position in the industry to enable the device ecosystem.
ST is a global leader in the semiconductor market serving customers across the spectrum of sense and power technologies and multimedia convergence applications. From energy management and savings to trust and data security, from healthcare and wellness to smart consumer devices, in the home, car and office, at work and at play, ST is found everywhere microelectronics make a positive and innovative contribution to people's life. By getting more from technology to get more from life, ST stands for life.augmented.
In 2011, the Company's net revenues were $9.73 billion. Further information on ST can be found at www.st.com.