Ericsson and STMicroelectronics comment on speculations regarding ST-Ericsson

STOCKHOLM, SWEDEN -- (Marketwire) -- Oct 09, 2012 -- Following recent speculations in the market regarding the future of ST-Ericsson, the 50/50 joint venture between Ericsson (NASDAQ: ERIC) and STMicroelectronics (NYSE: STM), Ericsson and STMicroelectronics make the following comments.

ST-Ericsson announced its strategic plan in April and is in the middle of executing on company transformation aiming at lowering its break-even point. It is natural for the parent companies to continuously review the strategy of the company.

The two parent companies, together with ST-Ericsson, are currently working with an external advisor in order to ensure the best possible future for ST- Ericsson. Both STMicroelectronics and Ericsson support ST-Ericsson in its transformation work and remain confident that the company has a strategic position in the industry to enable the device ecosystem.

Ericsson discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on October 9, 2012 at 12:30 CET.

Ericsson comment on speculations reg ST-Ericsson:

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Ericsson via Thomson Reuters ONE


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