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STMicro to exit ST-Ericsson venture
December 10, 2012 / 6:58 AM / 5 years ago

STMicro to exit ST-Ericsson venture

PARIS, Dec 10 (Reuters) - French-Italian group STMicroelectronics said it would exit struggling wireless chipmaker joint-venture ST-Ericsson as it announced a new strategic plan on Monday.

STMicro said it would pull out of the joint venture with Ericsson after a transition period.

“This disengagement process has started, with the transition expected to end during the third quarter of 2013,” the group said in a statement. (Reporting by Elena Berton)

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