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Mobile baseband chip JV ST-Ericsson (STM, ERIC) reports Q2 revenue of $344M (+19% Q/Q, but -10%...

Mobile baseband chip JV ST-Ericsson (STM, ERIC) reports Q2 revenue of $344M (+19% Q/Q, but -10% Y/Y) and a net loss of $318M (up from $221M in the year-ago period). Moreover, the company expects revenue to be merely flat Q/Q in seasonally stronger Q3. At quarter's end, ST-Ericsson finalized the transfer of its app processor R&D team to STMicroelectronics. While ST-Ericsson struggles, baseband chip giant Qualcomm (QCOM) is expected to continue posting healthy growth. (PR) (previous)
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