MUNICH, Germany — Wireless chip joint venture ST-Ericsson (Geneva, Switzerland) has managed to reduce its operating loss significantly in Q3. The positive trend is a result of both cost control and market recovery.
On sales of $728 million (up 9 percent over Q2) the company halved its operating loss to $77 million from $165 million during the preceding quarter. According to outgoing CEO Alain Dutheil, the improvement is owed largely to cost control measures; the remaining parts of the company's restructuring plan is on schedule.
Dutheil also pointed out that the company is experiencing good momentum for its U8500 3G/HSPA single chip smartphone platform for open operating systems with "key customers". While it is known that Nokia has been involved in the development of the platform, Dutheil did not elaborate on further customers.
On November 2, Dutheil plans to give up his position at the joint venture and to return to his former employer STMicroelectronics. He will be succeeded by Gilles Delfassy.
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