Italian French Ericsson was founded in 2009. Ericsson, the parent company of Sweden, and Italian French semiconductor of France each hold 50% shares. They are committed to the research and development of mobile phone chips. Nokia, Motorola and Sony Ericsson (cancelled) were their main customers. Due to the rise of smart phones in 2010, Ericsson, Italy France, has been greatly impacted by chip manufacturers such as Qualcomm, Samsung and so on in the market, and its operation has been deteriorating. By the end of 2012, the company had accumulated a loss of 2.7 billion US dollars. On March 18, 2013, Ericsson and Italian French semiconductor failed to seek investors for Italian French Ericsson, so they decided to completely close Italian French Ericsson, and the company's assets were recovered after negotiation between the two parent companies. According to the agreement between the two parties, Italian French Ericsson was officially cancelled at the end of September 2013.