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Philips Semiconductors Unveils India Chapter
By
ChannelTimes Staff
Mumbai, Sep 4, 2006
Following the announcement of its new independent identity globally, Philips Semiconductors today unveiled the India chapter and formally introduced the new company - NXP Semiconductors India.
The name change and new identity follow an agreement made in August 2006 between Royal Philips and Kohlberg Kravis Roberts & Co. (KKR), Bain Capital, Silver Lake Partners, Apax Partners and AlpInvest Partners NV that will see them take an 80.1 percent stake in the semiconductor business, valued at 8.3 billion. The remaining 19.9 percent of the semiconductor business will be retained by Philips.
The NXP acronym stands for Next Experience . NXP enables the next generation of consumer products that create advanced and exciting sensory experiences for the customer and end-user. The name NXP communicates the brand promise of Vibrant Media . As a recapitalized, independent entity, NXP is well-positioned to offer vibrant media technologies to consumers and end-users alike, the company stated in a press release.
Supported by the tagline 'Founded by Philips', the new name backed by the Philips heritage will stand as a bridge from the past into the future, the release added.
Speaking on the formation of NXP, K. Ramachandran, CEO, Philips Electronics India, remarked, "This is a momentous occasion for Philips and its semiconductor business. We are delighted to have allied with progressive partners who share our vision for the semiconductor business. Going forward as their business partners, we remain firmly committed to NXP as it readies itself for the next stage of its history."
Headquartered in Bangalore, NXP India also has operations in Delhi and Mumbai. It has a total workforce of 700 R&D engineers and a sales network which covers the entire country. The core areas of the company s activities in India will include design, sales and software partnerships.
Outlining the company's ongoing India strategy, Rajeev Mehtani, managing director, NXP Semiconductors, India, said, "We are thrilled to be part of this new vibrant brand. We will continue to build stronger traction for our home, mobile & personal and automotive & identification business units, which we see as being key drivers for our growth. In the coming months NXP will invest 5 million in a new state-of-the-art campus in Bangalore."
The company is presently working on 90 nm and 65 nm processes technologies in the areas of chip design and embedded software and systems.
"NXP Semiconductors is amongst the top three semiconductor companies in India in terms of sales with market leadership in several areas including chipsets for color TVs, contact-less smart card ICs and multimarket semiconductor devices. NXP India is working towards truly connected living by offering semiconductor devices and system solutions that add value to Indian OEM s and design companies," said Ashok Chandak, sales & marketing director, NXP Semiconductors, India.
NXP Semiconductors India has aggressive plans to sign up new partners to offer better flexibility and faster time to market for its customers.
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- anuradha,
justlamps, malaysia
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