The New York Times: Ericsson Writes Down a Chip-Making Venture

BERLIN — Ericsson, the world’s biggest maker of mobile network equipment, said on Thursday that it would take a sizable charge against earnings to write down the value of ST-Ericsson, an unprofitable venture that makes cellphone components.

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Reuters: Ericsson to take $1.2 billion charge on ST-Ericsson stake

Ericsson is taking a $1.2 billion charge in a bid to write off its exposure to ST-Ericsson, adding to doubts over the future of the loss-making joint venture after partner STMicroelectronics said it was pulling out. Read full article Related
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