NXP To Supply Apple With Mobile Payment Chips
NXP Semiconductors NV (NASDAQ: NXPI) gained three percent in pre-market trading Friday on a report it's providing wireless chips to the Apple (NASDAQ: AAPL) iPhone 6, enabling a mobile payment system.
The Netherlands-based semiconductor company makes so-called Near Field Communications chips that smartphones use to communicate with merchants' point-of-sale transaction terminals and other near-by devices.
Financial Times reported Thursday that NXP is a supplier of the devices for Apple's latest phone, expected to launch September 9. The publication cited unnamed sources and said both companies declined comment.
WIred Magazine reported Thursday that the phones will include the chips but didn't mention suppliers.
Re/code's John Paczowski quipped, "No, it won't be called PayPhone."
NXP changed hands in pre-market trading recently at $ 69.07, up 3.15 percent.
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