What's Driving Growth At NXP Semiconductors? CEO Explains

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Shares of semiconductor manufacturer NXP Semiconductors NV NXPI are up over 77 percent year-over-year. NXP Semiconductor CEO Rick Clemmer, was on CNBC recently to discuss what’s driving the growth for the company.


Mobile Wallet


“What we are focussed on is the mobile wallet and what we have talked about is, [is] we have multiple design wins in multiple platforms,” Clemmer said. “Well beyond all smartphone companies, but the mobile wallet is really where we bring a unique proposition, kind of based on the technology that we have with the bank cards that provides the fundamental key security associated with that.”


“And so, we want to be supply that across the world with all of the leading smartphone companies to really make life easier and secure.”


Catering To The Other Brands


On the demand from smartphone makers apart from Apple and Samsung, especially Chinese smartphone manufacturers Clemmer said, “That’s a significant part of our growth. What we are focussing on is being sure that we can provide the same fundamental capability for a mobile wallet for them that exist today.”


He continued, “And interestingly enough we have an audio product that’s really widely accepted with the China Inc. smartphone guys, where our sound quality actually is enhanced. They used to call it the beat solution with HTC, they went away, but we still have the same sound quality. We basically provide that to all the high-end smartphone guys in China.”


Not Concerned About Associated Revenue


Clemmer was asked about the growing concerns of U.S. tech companies facing hurdle in doing business in China. He replied, “We want to be sure that we are very open to doing things differently in China. As long as we maintain the same cash-flow, we are really not so concerned about what happens on the revenue associated with it, but really our focus is how we can provide the unique technology and capabilities for the Chinese market.”

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Posted In: CNBCMedia
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