TOKYO May 27 Renesas Electronics Corp
plans to sell its majority stake in a maker of iPhone display
chips to Synaptics Inc, another smartphone chip
supplier, according to sources familiar with the matter.
Apple Inc 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, but the
sources said those talks failed to make progress and Renesas had
narrowed its consideration to Synaptics.
Renesas has been looking to sell its 55 percent 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.
Display maker Sharp Corp, which holds 25 percent 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 percent.
(Reporting by Reiji Murai; Writing by Edmund Klamann; Editing
by David Goodman)