STMicro CEO: JV With Ericsson Aims to Rapidly Grow Market Share

PARIS -(Dow Jones)- STMicroelectronics's planned mobile platform and semiconductor joint venture with Ericsson is targeting a quick increase in its market share, STMicro's chief executive said Wednesday.

When asked on a conference call if the joint venture aims to "quite rapidly" grow its market share, Carlo Bozotti said: "Absolutely, this is crucial and the customer recognition is crucial."

STMicro and Ericsson said Wednesday they were pooling their wireless chip and platform businesses to form a joint venture that would have generated pro-forma revenue of $3.6 billion in 2007.

-By Jethro Mullen, Dow Jones Newswires; 33 1 4017 1738; jethro.mullen@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 20th August 2008