Ericsson Acquires GE's Interest in Ericsson-GE Mobile Communications

Ericsson has acquired GE's remaining interest in Ericsson-GE Mobile Communications. In 1989, Ericsson and GE jointly formed Ericsson-GE Mobile Communications to manufacture and distribute cellular phones and related equipment in the US and Canada. Initially, Ericsson had a 60% interest in the joint venture while GE had a 40% interest. In 1992, the joint venture was reorganized to reduce GE's interest to 20%.

Under the new agreement, Ericsson takes over full control of Ericsson-GE Mobile Communications. In addition, Ericsson retains the right to sell GE-branded mobile communication products through the year 2000.