Deals
Intel Spends $1.5 Billion to Boost China Market Access
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Intel Corp., struggling to break into the market for chips that run smartphones, will spend as much as 9 billion yuan ($1.5 billion) on a stake in Tsinghua Unigroup Ltd., owner of two Chinese chip designers, to speed up its access to the world’s largest mobile market.
Intel will take a maximum 20 percent stake in the owner of Spreadtrum Communications Inc. and RDA Microelectronics Inc., the Santa Clara, California-based company said in a statement. Spreadtrum will develop products jointly with Intel that will be marketed to its domestic phone-manufacturing customers from the second half of 2015. Tsinghua is a state-funded corporation.