STMicro (STM) signs $500 million supply deal with China's Huawei

July 2, 2015 7:55 AM EDT
Get Alerts STM Hot Sheet
Price: $35.74 +0.90%

Overall Analyst Rating:
    NEUTRAL (Up Up)

Trade Now! 
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





Related Categories

Contributors, Corporate News