RICSSON ACQUIRES GENERAL ELECTRIC'S INTEREST IN
ERICSSON-GE MOBILE COMMUNICATIONS
Ericsson Inc., the principal US subsidiary of Telefonaktiebolaget
LM Ericsson, announced today that General Electric Company had
sold the subsidiary that held GE's remaining interest in their
mobile communications joint venture to Ericsson.
In 1989, Ericsson and GE formed a joint venture to manufacture and
distribute cellular telephones and related equipment, primarily in
the United States and Canada, under the name Ericsson-GE Mobile
Communications Inc. Ericsson had a 60 percent interest in the
joint venture and GE had a 40 percent interest. In 1992, the
joint venture was reorganized to reduce GE's interest to 20
percent of the voting stock.
Ericsson retains the right to sell GE-branded mobile communication
products through the year 2000.
Ericsson's 100,000 employees are active in more than 130
countries. Their combined expertise in wired and wireless
networks, mobile phones and infocom systems makes Ericsson a
world-leading supplier in telecommunications.
FOR FURTHER INFORMATION, PLEASE CONTACT
Kathy Egan, Vice President, Communications, Ericsson Inc.
Tel. +1 212 685 4030
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