Ericsson

OMX : ERIC
NASDAQ : ERIC


October 09, 2012 06:37 ET

Ericsson and STMicroelectronics comment on speculations regarding ST-Ericsson

STOCKHOLM, SWEDEN--(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.

Ericsson discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on October 9, 2012 at 12:30 CET.

Ericsson comment on speculations reg ST-Ericsson: http://hugin.info/1061/R/1647654/531142.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Ericsson via Thomson Reuters ONE

[HUG#1647654]

Contact Information

  • Ericsson Corporate Public & Media Relations
    Phone: +46 10 719 69 92
    E-mail: Email Contact

    Ericsson Investor Relations
    Phone: +46 10 719 00 00
    E-mail: Email Contact