Nokia, STM Seal Deal

Nokia and STMicroelectronics close the agreement in 3G chipset development

November 5, 2007

1 Min Read

ESPOO, Finland and GENEVA -- Nokia (NYSE: NOK) and STMicroelectronics (NYSE:STM) today announced the closing of their deal, announced on August 8th, to deepen their collaboration on the licensing and supply of integrated circuit designs and modem technologies for 3G and its evolution.

The closing of the multifaceted agreement transfers a core part of Nokia's Integrated Circuit (IC) operations to STMicroelectronics and positions ST to design and manufacture 3G chipsets based on Nokia's modem technologies, energy management and RF (radio frequency) technology and to deliver complete solutions to Nokia and the open market. The agreement includes the transfer of approximately 185 highly-skilled engineers and other Nokia personnel in Finland and UK to STMicroelectronics. The transfer has been subject to a personnel consultation process required by local regulations

As part of the arrangement, Nokia has awarded ST a design win of an advanced 3G HSPA (high-speed packet access) chipset supporting high data rates. This design win represents ST's first complete 3G chipset.

Nokia Corp. (NYSE: NOK)

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