Following recent speculations in the market regarding the future of ST-Ericsson, the 50/50 joint venture between Ericsson (NASDAQ:ERIC, news, filings) 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.
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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.