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Ericsson to shut modem business, 1,000 jobs to go

18
Sep
2014

STOCKHOLM (Reuters) – Ericsson, the worlds biggest mobile network equipment maker, is winding down its modem business, shutting a loss-making unit with the departure of about 1,000 staff. The decision comes amid falling prices of modems, rising demands on research and development and a shrinking market as more smartphone makers buy modems and processors, which Ericsson does not make, together. The Swedish company had said it would evaluate the future of the business within 18 to 24 months of taking it on in 2013 when joint venture partner STMicroelectronics pulled out. …

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