Ericsson completes ST-NXP joint venture

Ericsson and STMicroelectronics have completed their mobile platform merger agreement and will be combining Ericsson Mobile Platforms with mobile semiconductor company ST-NXP Wireless into a 50/50 joint venture. Hardware from the two companies is used in nearly 80% of all handsets globally, and the joint venture will be a supplier to four of the five largest mobile phone companies in the world. These are two companies that have also pledged support for LTE as the next generation communications protocol.