Netherlands-based semiconductor manufacturer NXP and Franco-Italian chipmaker STMicroelectronics have created a new joint venture, under the name of ST-NXP Wireless. Developed from the mobile and wireless businesses of STMicroelectronics and NXP – estimated to have generated together revenues of USD 3 billion USD in 2007 – the new company is expected to focus on 2G, 2.5G, 3G, multimedia, connectivity and all future wireless technologies. Headquartered in Switzerland, ST-NXP Wireless is scheduled to enter the market in the third quarter. Alain Dutheil, chief operating officer of STMicroelectronics has been assigned to lead ST-NXP Wireless as CEO. ST-NXP Wireless' Executive Committee will include Abhijit Bhattacharya, currently financial controller, Multimarket Semiconductors Business Unit, NXP, who will take up the CFO position in the new joint venture; Tommi Uhari, current executive VP and general manager of Mobile, Multimedia & Communications Group, STMicroelectronics; as well as Marc Cetto, current executive VP and general manager of Mobile & Personal Business Unit, NXP. The joint-venture is expected to blend design, sales and marketing, and back-end manufacturing assets from both parent companies into an entity that will rely on its parent companies and foundries for wafer fabrication services.

Source:Telecompaper