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.The sources could not be named because they were not authorised to speak to media about the matter.A Renesas spokesman said the company was considering various options for the unit, including a sale, although no decisions had been made. Synaptics declined to comment.
Synaptics Incorporated is a developer and supplier of custom-designed human interface solutions that enable people to interact with a range of mobile computing, communications, entertainment, and other electronic devices. Shares of SYNA traded higher by 2.06% or $1.22/share to $60.47. In the past year, the shares have traded as low as $34.98 and as high as $69.00. On average, 1283480 shares of SYNA exchange hands on a given day and today's volume is recorded at 1156517.
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