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Chinese Company Acquires Philips Semiconductors' CDMA Technology
The Holley Group Co., Ltd., based in this capital of east China's Zhejiang Province, announced Tuesday that its American subsidiary has just acquired the CDMA mobile phone reference design operation of Philips Semiconductors Inc., a division of Royal Philips Electronics.
Philips Semiconductors has two offices in Vancouver, British Columbia, and Dallas, Texas. The acquisition allows the Holley Group, which is China's largest electric meter producer, to take a leading role in the mobile phone market.
Under the agreement, the majority of the Philips CDMA staff switched over to work for Holley Communications USA. Philips Semiconductors transferred to Holley its equipment, assets and intellectual property contained in the mobile phone reference design.
Wang Licheng, chairman of the board of Holley, said that China potentially offers the largest mobile phone market in the world. With this acquisition, Holley plans to provide chip design, reference designs, software and relevant technology to mobile phone manufacturers.
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