19.03.2013 01:05 Uhr, Quelle: MacNN

STMicro closing down, 1,600 jobs axed by chip design firm

Manufacturing partners Ericsson and STMicroelectronics will be shuttering ST-Ericsson, its poorly performing mobile chip joint venture, and will divide parts of the business between the two companies. The venture had been suffering from a large drop from its largest customer, Nokia, as market share of the companies handsets plummeted against competition from Apple and Samsung. ST-Ericsson had not turned a profit since it was formed in 2008, despite one in four smartphones sold in 2011 having some fort of its technology integrated.

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