Breaking News

Razer Unveils the Ultra-Lightweight DeathAdder V4 Pro Sony launches a high-resolution shotgun microphone with superior sound quality and compact design. Arctic announces New Liquid Freezer III Pro 280 and Pro 420 Silicon Power Launches Hypera microSDXC Express Card Samsung announces Watch8, Z Fold7 and Z Flip7

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

STMicroelectronics To Pay $59 million to NXP

STMicroelectronics To Pay $59 million to NXP

Enterprise & IT Apr 9,2012 0

STMicroelectronics on April 5, 2012, had been ordered to pay approximately $59 million to NXP Semiconductors, following an award from an arbitration tribunal set up according to the rules of the International Chamber of Commerce (ICC). The award concerns a dispute between ST and NXP and relates to a claim by NXP against ST for underloading charges to be included in the price of wafers which NXP supplied to ST's wireless JV from October 1, 2008 until December 31, 2009.

ST said it was disappointed with the results of the unexpected arbitration. However, the company is encouraged by the fact that in its award the ICC Tribunal states that it has chosen not to address certain issues which ST has raised, and that will be part of a second arbitration before the same ICC tribunal. A hearing for this second arbitration is scheduled in June 2012 with a final decision expected during the following twelve months.

"ST intends to vigorously pursue its claims in this second arbitration aiming to convince the ICC Tribunal to reverse the economic effect of its award in the first arbitration," the company said in a statement.

This award will be recognized in ST's first quarter 2012 results and is currently estimated to have a negative impact on its cost of sales. This will in turn negatively impact ST's gross margin by approximately 2.6 percentage points. Consequently, the company lowered its previously indicated guidance for the first quarter as a result of this unexpected exceptional charge to about 30.4%, plus or minus 1.5 percentage points.

Tags: STMicroelectronicsNXP Semiconductors
Previous Post
LG Targets Galaxy S III With New D1L Smartphone
Next Post
Inventor Wins Legal Round Against HP

Related Posts

  • Huawei Works With STMicroelectronics on chips: report

  • STMicroelectronics and TSMC Collaborate on The Development and Delivery of GaN Power Solutions

  • Deutsche Telekom, STMicroelectronics and Nokia Also Skip Mobile World Congress

  • NXP Introduces Secure UWB Fine Ranging Chipset for Mobile Devices

  • IFA 2019: NXP Demonstrates Solutions For Dolby Atmos Enabled Sound Bars and AV Receivers

  • Volkswagen Showcases Car that Uses UWB For More Secure Connectivity

  • NXP Announces Secure Ultra-Wide Band Ranging Technology

  • NXP to Buy Marvell’s WiFi and Bluetooth Connectivity Assets For $1.76 Billion

Latest News

Razer Unveils the Ultra-Lightweight DeathAdder V4 Pro
PC components

Razer Unveils the Ultra-Lightweight DeathAdder V4 Pro

Sony launches a high-resolution shotgun microphone with superior sound quality and compact design.
Cameras

Sony launches a high-resolution shotgun microphone with superior sound quality and compact design.

Arctic announces New Liquid Freezer III Pro 280 and Pro 420
Cooling Systems

Arctic announces New Liquid Freezer III Pro 280 and Pro 420

Silicon Power Launches Hypera microSDXC Express Card
Cameras

Silicon Power Launches Hypera microSDXC Express Card

Samsung announces Watch8, Z Fold7 and Z Flip7
Smartphones

Samsung announces Watch8, Z Fold7 and Z Flip7

Popular Reviews

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Noctua NH-D15 G2

Noctua NH-D15 G2

Soundpeats Pop Clip

Soundpeats Pop Clip

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Crucial T705 2TB NVME White

Crucial T705 2TB NVME White

be quiet! Pure Base 501

be quiet! Pure Base 501

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed