Chip maker ST-Ericsson will cut 1,700 jobs and shift a key part of its product to parent STMicro, forcing the French co-owner to focus more on its loss-making and volatile wireless business.
ST-Ericsson said it would partner with STMicro to develop application processors, after failing to cut a deal with one of four other companies.
via ST-Ericsson revamp pushes STMicro to mobile arm | Technology | Reuters.
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