Press Release Source: STMicroelectronics
Nokia and STMicroelectronics Close the Agreement in 3G Chipset Development
Monday November 5, 2:00 am ET
ESPOO, Finland and GENEVA, Switzerland, Nov. 5 /PRNewswire-FirstCall/ -- Nokia (NYSE: NOK - News) and STMicroelectronics (NYSE: STM - News) today announced the closing of their deal, announced on August 8th, to deepen their collaboration on the licensing and supply of integrated circuit designs and modem technologies for 3G and its evolution.
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The closing of the multifaceted agreement transfers a core part of Nokia's Integrated Circuit (IC) operations to STMicroelectronics and positions ST to design and manufacture 3G chipsets based on Nokia's modem technologies, energy management and RF (radio frequency) technology and to deliver complete solutions to Nokia and the open market. The agreement includes the transfer of approximately 185 highly-skilled engineers and other Nokia personnel in Finland and UK to STMicroelectronics. The transfer has been subject to a personnel consultation process required by local regulations
As part of the arrangement, Nokia has awarded ST a design win of an advanced 3G HSPA (high-speed packet access) chipset supporting high data rates. This design win represents ST's first complete 3G chipset.
About Nokia
Nokia is the world leader in mobility, driving the transformation and growth of the converging Internet and communications industries. Nokia makes a wide range of mobile devices and provides people with experiences in music, navigation, video, television, imaging, games and business mobility through these devices. Nokia also provides equipment, solutions and services for communications networks.
About STMicroelectronics
STMicroelectronics is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. An unrivalled combination of silicon and system expertise, manufacturing strength, Intellectual Property (IP) portfolio and strategic partners positions the Company at the forefront of System-on-Chip (SoC) technology and its products play a key role in enabling today's convergence markets. The Company's shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. In 2006, the Company's net revenues were $9.85 billion and net earnings were $782 million. Further information on ST can be found at www.st.com.
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Source: STMicroelectronics |
