Reuters reports that the long loss-making mobile chip venture ST-Ericsson delayed its scheduled “before market open” strategy announcement on Monday to the afternoon. The company’s spokesperson without giving any detail said: “the delay was caused by a technical reason”. The announcement is expected to include site closures and job cuts and could include seeking a partner for application processors.
In other news winding up from the China Times, HTC has reportedly signed a memorandum of cooperation with ST-Ericsson to develop its own mobile chips. The company will develop a dedicated application processor that will be incorporated into its low-end smartphones when production starts next year. A lot to come for ST-Ericsson today and in coming days. Stay tuned with us and we will update you with every minute story.
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