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According to sources, Renesas Electronics is mulling to sell its majority stake in a maker of iPhone display chips to Synaptics, another smartphone chip supplier.
Renesas is looking for inking a deal with Synaptics after failed talks with Apple.
Apple had also been in talks about a possible purchase of the stake in Renesas SP Driver in what was seen as a potential move to shore up its global supply chain.
While Renesas has been looking to sell its 55% stake in the unit that is the sole supplier of display driver chips for Apple’s iPhone, as it focuses on customers in the auto sector and sheds non-core assets.
On the other side, display maker Sharp, which holds 25% of Renesas SP Driver and is unloading assets to bolster its finances, is also expected to sell its stake once Renesas reaches an agreement.
Taiwan’s Powerchip holds the remaining 20%.