Ericsson to take $1.2 billion charge on ST-Ericsson stake

The exterior of Ericsson's headquarters are seen in StockholmSTOCKHOLM (Reuters) – Ericsson, the world's biggest telecom network equipment maker, will take an 8 billion crown ($ 1.2 billion] charge on its ST-Ericsson venture, underscoring the uncertainty over the loss-making project after partner STMicro said it was pulling out. Ericsson has been struggling recently with a slowdown in sales at its core network unit due to competition and a faltering global economy. In October it reported a 42 percent drop in third-quarter core earnings. …

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