Tag Archives: JointVenture

ST-Ericsson joint venture begins dissolution process, 1,600 jobs gone in the process

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STEricsson joint venture begins dissolution process, 1,600 jobs gone in the process

It's typically a bad sign when a major semiconductor company sees its CEO walk away, and no one in adjoining offices stops to do anything about it. Such is the case with ST-Ericsson, a (now) failed joint venture of STMicroelectronics and Ericsson. The two outfits have seemingly failed to find a suitor for the JV, leaving them with relatively few options -- poor ones at that. In a release posted today (and embedded after the break), the entity has stated that each partner company will take on some of the business, but around 1,600 jobs will be lost from the sectors that neither has interest in. ST-Ericsson was an attempt to jump-start a semiconductor business in Europe, but it actually hasn't turned a profit since forming in 2008.

Ericsson will take on the design, development and sales of the LTE multimode thin modem products, including 2G, 3G and 4G multimode, while ST will take on the existing ST-Ericsson products, other than LTE multimode thin modems, and related business as well as certain assembly and test facilities. It's expected that the particulars will clear regulatory hurdles in Q3 of this year, and in order to make sure things go as well as they can in the interim, Carlo Ferro is being appointed president and CEO of the JV starting on April 1st.

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Via: TechCrunch

Source: ST-Ericsson, Ericsson

Sharp and Qualcomm to team up for energy-efficient IGZO display venture

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Sharp and Qualcomm to team up for energyefficient IGZO display venture

We already knew that Sharp's been asking around for some much-needed help recently, and now we can all breathe a sigh of relief, as Nikkei is reporting that said manufacturer has finally found a new friend to help co-develop its energy-efficient IGZO LCD panels. Set to announce as soon as Tuesday (presumably Japan time), the deal will involve Qualcomm initially throwing in five billion yen ($61 million) by the end of the year, with a double-down of another five billion yen after "sufficient progress has been made." There's no timeline yet on when (or if) a full investment would be secured, but if all goes to plan, Qualcomm will eventually hold nearly five percent of Sharp's stock, whereas Sharp will more or less get back the 10 billion yen it lost to Sony following the termination of their joint venture earlier this year. Not a bad way to prepare for 2013, eh?

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Via: Reuters

Source: Nikkei (subscription required)

Sony formally quits Sharp LCD joint venture, takes back every yen it invested

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Sony formally quits Sharp LCD joint venture, takes back every yen it invested

After Sony cut off its supply of capital to the ill-fated Sakai production plant that it jointly owns with Sharp, it became clear that the final goodbye may be little more than a formality. And here it is, in the form of a cold, resolute press release stating that Sony is selling its seven percent stake back to Sharp and taking back the 10 billion yen ($126 million) it originally invested. The only reason given is the "rapidly changing market for LCD panels and LCD televisions," which is a polite reference to the fact that profits from big TVs are well below what these companies predicted back in the heady days of 2008 and early 2009, when the impact of the global economic crisis loomed without yet being fully apparent. Fortunately for Sony, which is in the delicate stages of reform, the solid pre-nuptial agreement it had in place with Sharp should protect the company from having to revise its financial forecasts for the coming year -- not that those were particularly great in the first place.

Continue reading Sony formally quits Sharp LCD joint venture, takes back every yen it invested

Sony formally quits Sharp LCD joint venture, takes back every yen it invested originally appeared on Engadget on Thu, 24 May 2012 03:04:00 EDT. Please see our terms for use of feeds.

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Sony, Toshiba, Hitachi joint venture Japan Display fires up operations

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The joint venture that is Japan Display agreed on its formalities back in November, and has now finally started operating. While Sony, Toshiba and Hitachi all have a 10 percent stake in the business, the main investment comes from the government-backed INCJ. The collaboration hopes to champion the middle- and small-sized display sector, and has around 6,200 employees, and ¥230 billion (about $2.8 billion) of capital to help it on its way. Now that the wheels are finally in motion, an announcement of its operational divisions, which include "Mobile Business" and "Automotive" hint at what we might expect from the business going forward. Assuming no one sells up that is.

Sony, Toshiba, Hitachi joint venture Japan Display fires up operations originally appeared on Engadget on Tue, 03 Apr 2012 07:28:00 EDT. Please see our terms for use of feeds.

Permalink   |  sourceNikkei  | Email this | Comments

Fujitsu buys out Toshiba’s stake in mobile joint venture, division now called Fujitsu Mobile Communications

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April 2, 2012: a great day to officially wash your hands of an unprofitable business. On the heels of Philips stuffing its TV biz into a joint venture, Fujitsu announced it has bought out Toshiba's stake in Fujitsu Toshiba Mobile Communications (just like we knew it would). Fujitsu already had a controlling 80.1 percent interest in the company, so this doesn't exactly mark a seismic change in management. Still, with that final 19.9 percent it's now a fully owned subsidiary of the Fujitsu Group, and has been rechristened Fujitsu Mobile Communications. We've got the PR below, but unless you want to know how much capital the division has (¥450 million, to be exact), we think we've got you covered on the facts.

Continue reading Fujitsu buys out Toshiba's stake in mobile joint venture, division now called Fujitsu Mobile Communications

Fujitsu buys out Toshiba's stake in mobile joint venture, division now called Fujitsu Mobile Communications originally appeared on Engadget on Mon, 02 Apr 2012 12:43:00 EDT. Please see our terms for use of feeds.

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Samsung, NTT DoCoMo, et al. cancel plans for LTE chip joint venture

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ImageLooks like the decision to not make a decision has... well, created a decision. Back in December of 2011, NTT DoCoMo, Panasonic, Samsung and a smattering of other Japanese firms put their heads together in order to launch a joint venture to manufacture and sell ICs for mobile devices. Communication Platform Planning Co. was actually established with the goal to hawk these LTE semiconductors, but now that a consensus on how it'd all play out wasn't reached by the March 2012 deadline, it'll be liquidated in June. Reportedly, DoCoMo even set aside some $5.4 million to set up the now-defunct subsidiary, but now it's all for naught. The entire press release is embedded just after the break, though it's about as light on deets as they come.

Continue reading Samsung, NTT DoCoMo, et al. cancel plans for LTE chip joint venture

Samsung, NTT DoCoMo, et al. cancel plans for LTE chip joint venture originally appeared on Engadget on Mon, 02 Apr 2012 10:16:00 EDT. Please see our terms for use of feeds.

Permalink   |  sourceEETimes, ComputerWorld, NTT DoCoMo  | Email this | Comments

Philips transfers TV business to a joint venture with TPV Technology, TPV takes the controlling stake

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It took almost exactly a year, but Philips is finally free of its pesky, money-losing TV problem. As planned, the company transferred its television business into a joint venture with Hong Kong-based TPV Technology called TP Vision -- an arrangement that endows TPV with a controlling 70 percent stake. (Philips will still receive royalties on top of whatever it earns through this venture, and plans to sell Philips-branded sets in the US through a separate partnership with Funai.) Though the deal was first detailed a year ago, Philips only announced today that the transaction had closed. Now that it has, the newly formed company will produce Philips-branded TVs in a bid to make it one of the "top three players," according to TP Vision chief Maarten de Vries. As you'd expect, all of the 3,300 employees that previously fell under Philips' television division will now be in the employ of TP Vision, and Philips' various manufacturing sites have been transferred over too. All of that and a healthy dose of rah-rah in the full PR below.

Continue reading Philips transfers TV business to a joint venture with TPV Technology, TPV takes the controlling stake

Philips transfers TV business to a joint venture with TPV Technology, TPV takes the controlling stake originally appeared on Engadget on Mon, 02 Apr 2012 09:05:00 EDT. Please see our terms for use of feeds.

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