Technology Other News 20 Apr 2019 Qualcomm's join ...

Qualcomm's joint venture with Chinese province to shut down: The Information

REUTERS
Published Apr 20, 2019, 11:15 am IST
Updated Apr 20, 2019, 11:15 am IST
Executives at the venture said in internal meetings on April 18 that it would close by April 30.
The venture’s chief executive had been replaced and that its work on future chips had either slowed or stalled.
 The venture’s chief executive had been replaced and that its work on future chips had either slowed or stalled.

A joint venture between US smartphone chipmaker Qualcomm Inc and China’s Guizhou province will shut down by the end of the month, The Information reported on Friday, citing employees at the venture. The joint venture, Huaxintong Semiconductor (HXT), was formed in 2016 for the design, development and sale of advanced server technology.

Executives at the venture said in internal meetings on April 18 that it would close by April 30, The Information said, adding that Qualcomm and Guizhou province had invested a combined USD 570 million in HXT as of August 2018.

 

The development follows a report from earlier this month, which said the venture’s chief executive had been replaced and that its work on future chips had either slowed or stalled.

Qualcomm did not respond to a request for comment outside regular US business hours. HXT could not immediately be reached for comment.

Click on Deccan Chronicle Technology and Science for the latest news and reviews. Follow us on Facebook, Twitter

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT