SOURCE: ST-Ericsson

February 11, 2011 11:45 ET

Following Today's Announcement of Nokia's New Strategy, Questions Were Raised Regarding the Impact on ST-Ericsson

PLAN-LES-OUATES, SWEDEN--(Marketwire - February 11, 2011) - Gilles Delfassy, president and CEO of ST-Ericsson, stated, "ST-Ericsson's plans for our new products and platforms remain on track, both with Nokia as well as with other top-tier customers, with whom we have obtained designs-wins. Additionally, we see continued traction with our new product roadmap over the next quarters that confirms that the business opportunities for ST-Ericsson are in-line with our expectations.

Our focus is to bring flexible, leading-edge platforms quickly to the market by addressing a wide array of segments and operating systems, including Windows Phone. We see Nokia's new strategy as an additional opportunity to leverage the foundation we have built and continue our more than 20 years collaboration with Nokia, as it aligns well with what we're doing."

Jo Harlow, head of Nokia's new Smart Devices unit stated, "ST-Ericsson will continue to be a strategic partner for Nokia moving forward. We count them as one of our key suppliers, working with us as we successfully execute our new platform and operating system strategy."

About ST-Ericsson ST-Ericsson is a world leader in developing and delivering a complete portfolio of innovative mobile platforms and cutting-edge wireless semiconductor solutions across the broad spectrum of mobile technologies. The company is a leading supplier to the top handset manufacturers and ST-Ericsson's products and technologies enable more than half of all phones in use today. The company generated sales of about USD 2.3 billion in 2010. ST-Ericsson was established as a 50/50 joint venture by STMicroelectronics and Ericsson in February 2009, with headquarters in Geneva, Switzerland.

This press release contains forward-looking statements that involve inherent risks and uncertainties. We have identified certain important factors that may cause actual results to differ materially from those contained in such forward- looking statements. For a detailed description of risk factors see STMicroelectronics' (NYSE: STM) and Ericsson's (NASDAQ: ERIC) filings with the US Securities and Exchange Commission, particularly each company's latest published Annual Report on Form 20-F.

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Source: ST-Ericsson via Thomson Reuters ONE


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