Today's amalgamation between ST-NXP Wireless and Ericsson Mobile Platforms is aimed at stopping the major US players from taking over the wireless telecoms industry in Europe.

"We want to be the undisputed leader in mobility solutions, but we cannot do it alone," said ST's CEO, Carlo Bozotti, at today's press conference, adding, "but we can do it now. That is the rationale for the joint venture."

"I believe this is about Europe," added Bozotti, "it's a great enterprise in Europe. We are going for leadership, and it's very much a leadership that is coming from Europe in terms of  IP, customers and technologies. It's very much come from Europe."

European leadership in telecommunications has been a tradition in the world electronics industry for many decades, with the US traditionally dominating the computer sector, and Asia dominating in consumer.

Read the full analysis on David Manners' Mannerisms blog