Swedish wireless equipment maker LM Ericsson AB and Switzerland-based chip-maker STMicroelectronics NV's on Wednesday unveiled plans to create a 50-50 joint venture to make wireless chipsets for mobile handsets, AP reported. The merger of Ericsson's mobile platforms unit and ST's ST-NXP Wireless division will have 8,000 employees and be headquartered in Geneva, Switzerland. Pro-forma sales for 2007 are calculated at US$3.6 billion. The company will supply four of the industry's top five handset manufacturers, they said, including Nokia, Samsung, Sony Ericsson, LG and Sharp.
