Ericsson to take $1.2 billion charge on ST-Ericsson stake
Friday, January 4, 2013 4:30 PM
Posted by gamefbi
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. ...
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