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Wingtech , the Chinese firm that owns European computer chip maker Nexperia, intends to sell roughly half of its business and focus more on chipmaking due to "changes in the geopolitical environment", it said in a filing this week. ET Year-end Special Reads Stocks to buy in 2025: 66 ideas from top brokerages for your new year portfolio What does 2025 hold for India's IT services sector? 2025 may be the year of EVs in India, dominated by SUV launches The move comes less than a month after the firm was added to the US government's "entity" list as an investor the US views as aiding Chinese government efforts to acquire sensitive chipmaking technology. However, Wingtech plans to sell its "product integration" business, which includes contract manufacturing of smartphones, home appliances and other electronics , and to double down on chipmaking, it said.
"After completion of this transaction, the company will concentrate resources on the semiconductor business, (and) strengthen and enhance its position as a leading global power semiconductor company," it said. No price was given for the proposed transaction in the filing with the Shanghai Stock Exchange . The buyer, Luxshare Ltd.
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Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Nexperia, which said in December it does not expect the US entity listing to impact its operations, could not immediately be reached for comment. Wingtech bought Nexperia in 2019..
