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STMicroelectronics to exit Ericsson joint venture

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GENEVA (AP) — Europe's largest chipmaker, STMicroelectronics NV, said Monday it plans to exit its money-losing joint venture ST-Ericsson, as it struggles to manage a downturn in global demand. Swiss-based STMicroelectronics said it is negotiating "exit options" from ST-Ericsson, its joint venture with Swedish telecommunications company Ericsson. It has already started working on leaving...