STMicroelectronics and Ericsson 50/50 venture

The combined resources of the companies means that ST-Ericsson is a powerful force in the wireless semiconductor industry, supplying four of the top five handset manufacturers. The announcement follows the recent closing of the agreement announced in August 2008 between the parent companies to merge Ericsson Mobile Platforms and St-NXP Wireless. A new management team has been announced, with Alain Dutheil presiding as president and ceo. Robert Puskaric has been appointed deputy ceo, executive vice president, with Tommi Uhari and Abhijit Bhattacharya taking on the roles of senior vice president of products and operations and quality, respectively. Dutheil said: "ST-Ericsson is born as a leader, drawing upon the strong heritage of some of the best wireless companies. Thanks to our cumulative experience, unique portfolio and long-standing relationships with the top handset manufacturers, ST-Ericsson has the four fundamental components necessary for success: a commitment to innovation, a complete portfolio of wireless solutions, a solid reputation as a reliable and trusted partner and an experienced management team focused on execution. The strong backing of experienced parent companies, combined with the highly complementary and compatible cultures, gives ST-Ericsson an optimal starting point for quickly consolidating its position as a sustainable leader."