Philips Semi turns into NXP

THE FORMER chip division of Philips is to change its name following the sale of 80 per cent of the company to private equity firms.

It will be called NXP, said its CEO, Frans van Houten. He claims NXP stands for Next Experience, but that would be NE, wouldn't it, Frans?

But let's look on the bright side. Now it's NXP its products and brands won't have that silly little Philips two-tone ditty attached to its ads any more.

NXP will look at making acquisitions as it will have a hefty little cash mountain, said van Houten. It will continue to develop products in the car, ID, home, mobile and multi-market semconductors.

NXP will stay in Philips capital city, Eindhoven, and absorb 600 ex-Philips boffins, in addition to the 6,700 engineers and boffins that currently work for it.