Report: Ericsson to sell microelectronics division
The Financial Times reported on Friday that Ericsson plans to sell its microelectronics division at a value of between $1 and $2 billion. FT based based its report on the unit’s sales and operating margins for second quarter 2001, which were lower than last year. A company spokeswoman declined to comment on the report.
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Ericsson’s microelectronics unit has been affected by declining sales of mobile phones and the company previously stated that it was looking at its non-core operations as potential divestments. However, Ericsson has yet to indicate whether the microelectronics division is a candidate.
The company did announce on Friday a plan to restructure its management to combat the slowdown in demand for mobile systems equipment and handsets.
--Kelly Carroll, staff writer
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© 2012 Penton Media Inc.
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