Swedish telecommunications equipment maker
Ericsson on Thursday said it would take a 8-billion-kronor
(1.2-billion-dollar) writedown over joint venture ST-Ericsson, which
makes semi-conductors.
The costs would be charged to the fourth quarter, Ericsson said.
The sum included a writedown of assets and 3 billion kronors needed
to implement "strategic options" for the joint venture that was set
up in 2009.
Ericsson said it had also decided not to take full ownership of
the semi-conductor maker.
Earlier this month, ST Microelectronics that owns the other 50 per
cent stake in ST-Ericsson said it planned to sell its stake in the
chip maker.
Ericsson shares dipped about 2.4 per cent on the Stockholm bourse
on the news.
Most Popular Stories
- SEO Traffic Lab Celebrate Wins at Digital Marketing Event 'Internet World 2013' in London
- Social Media Initiatives Should Follow Customers' Lead
- Apple CEO: Offshore Units Not a 'Tax Gimmick'
- U.S. Senate Accuses Apple of Large-scale Tax Avoidance
- Marketo Makes a Mint in IPO: Stock Shoots Up More than 50 Percent
- UTEP Water Recycling Project Wins Venture Titles
- Bieber Booed at Billboard Awards
- Crude Oil Up, Gasoline Down
- Ford's Supplier Diversity Program Turns 35
- Austin Startup Compare Metrics Raises $3.5 Million for Expansion
News-To-Go
Advertisement
Advertisement
News Column
Ericsson Takes $1.2 billion Charge for Semi-conductor Maker
Dec. 20, 2012
Advertisement
For more stories covering the world of technology, please see HispanicBusiness' Tech Channel
Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH
Story Tools
