The joint venture between Swedens LM Ericsson and Japans Sony Corp. will consolidate product development operations by closing sites in Research Triangle Park; Seattle; Miami; San Diego; Kista, Sweden; and Chennai, India, spokeswoman Stacy Doster said.
The site closures are new elements of a plan announced in April to cut a worldwide staff of 10,000 by [...]

In his ruling Tuesday, U.S. Bankruptcy Judge Kevin Gross in Wilmington, Del., said he was satisfied that the assets were being sold at a fair price and that both Nortel and its creditors will benefit. The Ontario Superior Court of Justice in Toronto also approved the deal.
The rulings may not be the final [...]

Net income plunged 56 percent to 831 million kronor ($111 million), or 0.26 krona a share, from 1.9 billion kronor, or 0.59 krona, a year earlier, Stockholm-based Ericsson said today in a statement. Analysts had anticipated profit of 2.1 billion kronor, the average estimate compiled by Bloomberg.
[...]

The second-quarter net loss was 213 million euros ($300 million), smaller than analysts anticipated, compared with net income of 6 million euros a year earlier, the company said in a statement today. Sales fell 40 percent to 1.68 billion euros, missing analysts estimates.
[...]

The handset maker added a year to its sponsorship, Aldo Liguori, who oversees the London-based companys global communications, said in an interview. Sony Ericsson Mobile Communications Ltd., the mobile-phone venture between Sony Corp. and Ericsson AB, is three years through the original four-year backing of the event.
[...]

Net income declined to 1.72 billion kronor ($214 million), or 0.54 krona a share, from 2.65 billion kronor, or 0.83 krona, a year earlier, Ericsson said today in a statement. Revenue rose 12 percent to 49.6 billion kronor. Analysts predicted profit of 1.43 billion kronor on revenue of 50.8 billion kronor, according to the average [...]

Financial difficulties at Nortel Networks Corp. and Motorola Inc. have helped Ericsson boost its market share in all regions, Svanberg said in an interview in New York yesterday.
Ericsson, which hasnt reported a loss since 2003, has been unaffected by the recession [...]