By Joey Gardiner, 20 August 2001 11:06
NEWS Mobile phone maker Ericsson is attempting to sell off its microelectronics division in a deal valuing the business at between $1bn to $2bn. According to the Financial Times, the Swedish equipment manufacturer has appointed Merrill Lynch to advise it in a sale designed to offset falling revenues from other parts of its business. Ericsson has previously announced it is considering divesting parts of its business, but so far has refused to indicate where the axe will fall. It has been hit particularly hard by the current downturn in mobile phone sales, unveiling a loss of nearly $1bn for the first half of the current year.
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