Ericsson Records $1.2 Billion Cost for Wireless-Chip Venture

Ericsson Records $1.2 Billion Cost for Wireless-Chip Venture

Chris Ratcliffe/Bloomberg

Ericsson, already dealing with sputtering demand for wireless-network gear, was left in charge of the struggling chip venture after STMicroelectronics said it wants out to remove a drag on profitability.