InfoAnda - Ericsson to take $1.2 billion charge on ST-Ericsson stake |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Cuba's Raul Castro on milestone Russia visit | 29 January 2009
Daniel Craig eyes psychological thriller | 25 June 2009
Thai Parliament to choose on new prime minister | 15 December 2008

Facebook to open sales office in Hong Kong: media | 9 February 2011

Forum Views () Forum Replies ()

Read more with google mobile : Ericsson to take $1.2 billion charge on ST-Ericsson stake |

Edition: U.S. Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Investing Simplified Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB Dividends World World Home U.S. Brazil China Euro Zone Japan Africa Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Nader Mousavizadeh Lucy P. Marcus Nicholas Wapshott Bethany McLean Anatole Kaletsky Zachary Karabell Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Reihan Salam Frederick Kempe Mark Leonard Steven Brill Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Pictures Our best science photos of 2012 The year that was in science and technology images. Slideshow Follow Reuters Facebook Twitter RSS YouTube Read Putin backs tit-for-tat response to U.S. rights law 10:43am EST Mexico's ethnic Maya unmoved by 2012 'Armageddon' hysteria 19 Dec 2012 Videogames under fire, Hollywood lays low after school shooting 19 Dec 2012 "Fiscal cliff" talks turn sour, Obama threatens veto | 19 Dec 2012 "Fiscal cliff" talks turn sour, Obama threatens veto | 8:56am EST Discussed 111 Connecticut gun rampage: 28 dead, including 20 schoolchildren 105 Republicans put squeeze on Obama in ”fiscal cliff” talks 78 White House won’t accept new tax offer from Republican leader Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Tragedy in Newtown Mourning the victims of the Sandy Hook school shooting. Slideshow Person of the Year Previous picks for Time's Person of the Year. Slideshow Sponsored Links Ericsson to take $1.2 billion charge on ST-Ericsson stake Tweet Share this Email Print Related News Samsung drops attempt to ban Apple sales in Europe Tue, Dec 18 2012 Renault's exit gives Volvo more freedom to restructure Thu, Dec 13 2012 Deals of the day -- mergers and acquisitions Mon, Dec 10 2012 UPDATE 3-STMicro to quit ST-Ericsson mobile chip venture Mon, Dec 10 2012 Italy - Factors to watch on December 10 Mon, Dec 10 2012 Related Topics Tech » Media » The exterior of Ericsson's headquarters are seen in Stockholm April 30, 2009. Credit: Reuters/Bob Strong By Simon Johnson and Olof Swahnberg STOCKHOLM | Thu Dec 20, 2012 7:36am EST STOCKHOLM (Reuters) - 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. Ericsson, the world's biggest equipment maker for mobile telecom networks, said on Thursday it would take the 8 billion Swedish crown hit in its fiscal fourth quarter in a move set to plunge it into a net loss for the three month period. The Swedish group said it would not buy STMicro's 50-percent stake in the mobile chip making venture, confirming its previous indications and leaving the future of the venture's 5,000 employees staff looking uncertain. Analysts think ST-Ericsson's wireless modem business could be attractive to a competitor like Samsung and that Ericsson could retain its power management solutions business. But the rest of the venture's operations may just be shut down. "Two thousand jobs are at risk whatever the scenario," said Jerome Ramel, analyst at Exane BNP Paribas. "If they just shut it down, it is even more." Ericsson has been struggling recently with a slowdown in sales at its core network unit due to competition and a faltering global economy. In October it reported a 42 percent drop in third-quarter core earnings. Profits have also been squeezed by its loss-making joint-ventures, mobile phone maker Sony Ericsson - which it has sold - and ST-Ericsson, which has not made a profit since it was formed in 2009 as key customer Nokia struggled to compete in smartphones with the likes of Apple and Samsung. Successive cost-cutting plans, including an April announcement of 1,700 job cuts and the transfer of some product development to STMicro, have failed to staunch its losses. ON LIFE SUPPORT STMicro said earlier this month it would quit the venture in 2013, handing responsibility for its future to Ericsson, which also wants to wash its hands of the unit so it can focus on reviving sales at its key networks unit. Ericsson warned in October it might have to take a write down on ST-Ericsson, which has lost more than $1.5 billion excluding restructuring charges over the last three years. "A writedown wasn't entirely unexpected given STMicro's plans," said one analyst who declined to be named, though he added that Ericsson's charge was larger than he had expected. At 6.55 a.m. ET, Ericsson shares were down 2.9 percent at 6.00 a.m. ET, underperforming the DJ Stoxx 600 European technology index which was down 0.8 percent. "Ericsson will continue to explore various strategic options for the future of ST-Ericsson assets," the Stockholm-based company said, while declining the comment on the details. "To acquire the full majority of ST-Ericsson is, however, not an option." The charge was mainly related to writing off loans to the joint venture, as well as funding for the business while its future is determined, Ericsson said. Bengt Nordstrom, CEO of telecoms consultancy Northstream, said ST-Ericsson's future had looked bleak since Nokia chose U.S. software giant Microsoft as a partner. "Since then, it has been on life support," he said. The average estimate for Ericsson's fourth-quarter net profit is 3 billion crowns, according to Reuters Starmine. The firm last made a net loss in the third quarter of 2003. ($1=6.5388 Swedish crowns) (Reporting by Simon Johnson; Editing by Mark Potter) Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Thursday, 20 December 2012
Clinton not responsible for Benghazi shortcomings: inquiry |
U.S. soldier referred to court martial over Afghan slayings |
Sudan, South Sudan to discuss rebel support next month |
Georgia detains three former state officials for bribery |
Detained Argentine naval ship leaves Ghana |
Fear slows Libyan probe into attack on U.S. mission in Benghazi |
Yemeni president abolishes two major military units |
Owner of OpenTV slaps Netflix with patent lawsuit |
THQ files for bankruptcy, Clearlake makes bid for assets |
Taylor Swift keeps Bruno Mars out of Billboard 200 top spot |
Breakfast at Tiffany's, Dirty Harry among U.S. film treasures |
Breakfast at Tiffany's, Dirty Harry among U.S. film treasures |
State Department security chief leaves post over Benghazi |
Al Qaeda grows powerful in Syria as endgame nears |
Business as usual for South Korea's chaebol under Park |
India's Modi looks set to win state poll, may boost PM ambitions |
U.S. soldier could face death penalty for Afghan killings |
Rebels seize towns in central Syria |
Ailing Iraq president leaves for treatment in Germany |
Loved and loathed, Park talks tough after Korea poll win |
Rights group calls for release of activist missing in Laos |
Owner of OpenTV slaps Netflix with patent lawsuit |
U.S. agency makes initial ruling against Apple pinch-to-zoom patent |
Twitter lets users claim their personal history |
Google sells Motorola TV set-top business for $2.35 billion |
China tells U.S. it will improve intellectual property protection |
FTC tightens rules protecting children's online privacy |
Defense bill lifts barrier on satellite exports |
Miss USA crowned Miss Universe in eighth American win |
Thousands mourn U.S.-Mexican singer Jenni Rivera |
'Homeland' star Claire Danes gives birth to first child |
Owner of OpenTV slaps Netflix with patent lawsuit |
Syrian rebels fight for strategic town in Hama province |
Egyptian prosecutor suddenly retracts resignation |
Putin backs tit-for-tat response to U.S. rights law |
Amnesty warns of crisis for migrants in Greece |
In China's shadow, ASEAN leaders look to India for maritime security |
Berlusconi warns Monti not to stand in Italy election |
Rajoy counts benefits of stick-in-mud tactics |
French colonization of Algeria brutal: Hollande |
Slovenia: as star wanes, anger on streets |
Oracle to buy software maker Eloqua for $810 million |
Spain fines Telefonica, Vodafone, Orange over texts |
EU to make antitrust charges against Samsung soon |
Ericsson to take $1.2 billion charge on ST-Ericsson stake |
Foxconn buys minority stake in GoPro for $200 million |
Samsung Electronics completes talks for $3.9 billion U.S. chip expansion |
Seven companies enter British 4G airwaves race: regulator |
Gangnam Style in line for UK dictionary inclusion |
Israeli Arab wrestles with grief, guilt in suicide bomb film |
Putin offers French tax row actor Depardieu a Russian passport |
Singer Odell first male to win Brit newcomer award |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01