STMicro (STM) signs $500 million supply deal with China's Huawei
Get Alerts STM Hot Sheet
Join SI Premium – FREE
TOULOUSE, France (Reuters) - French microchip maker STMicro (NYSE: STM) signed a $500 million with China's Huawei on Thursday to bolster its supply relationship with the Chinese telecom equipment provider, the French government said in a statement.
The five-year deal, signed during a visit to France by Chinese Prime Minister Li Keqiang, is expected to lead to an increase in orders for the semiconductor manufacturer, the statement said.
(Reporting by Julien Ponthus; editing by Jason Neely)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Berenberg Upgrades STMicroelectronics NV (STM:FP) (STM) to Buy
- Massimo Group (MAMO) Expands Partnership with Global Omnichannel Retailer for Youth Series Vehicles
- Genco Shipping & Trading Limited (GNK) Sends Letter to Shareholders
Create E-mail Alert Related Categories
Contributors, Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!