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Ericsson increases stake in LG-Ericsson

Posted: 27 Mar 2012 ?? ?Print Version ?Bookmark and Share

Keywords:telecom supplier? network equipment?

Mobile network equipment maker Ericsson now holds 75 percent stake in LG-Ericsson. It looks like the company is positioning itself in the fast-growing South Korean market. Ericsson previously had 50 percent plus one share in the joint venture.

LG-Ericsson was formed in 2005 and since then has become a supplier to major telecom operators in Korea such as KT Corp., LG Telecom and SK Telecom.

Last year, Ericsson sold its stake in the mobile joint venture Sony Ericsson to Sony for $1.32 billion. Ericsson has another joint venture company, struggling chip maker ST-Ericsson.

Analysts believe Ericsson will probably sell its stake in ST-Ericsson after the chip-maker returns to profitability, although Ericsson has said it is a long-term, strategic holding.

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