Friday, 31 August 2007

NXP Celebrates First Anniversary as Independent Company

NXP Semiconductors, the independent company founded by Philips, has marked its first year as a dedicated semiconductor company by launching an average of almost ten new products per week in its first year.

The company announced this week that it has introduced 500 product innovations in the past year as part of its strategy for leadership in six growth domains: cellular phones, personal entertainment, home electronics, automotive, identification and multi market semiconductors.

In its latest transformational move, NXP Semiconductors has revamped its R&D programs for the next three years through its “Roadmap for Leadership” in order to develop a series of ground breaking products on which it will focus its resources to better match the needs of its customers and accelerate growth.

Reflecting on the company’s first year, NXP’s President and CEO, Frans van Houten, said, “We are making good progress on our journey to become an agile, cost efficient, high performing and customer-driven company.

“As an independent company, we have taken decisions fast and can point to many achievements. Our Business Renewal II Programme is expected to exceed the EUR 250 million of cost savings achieved in the first phase of Business Renewal and we moved towards an asset light manufacturing model.

“Our firm objective has been to develop a high-performance organization that leads in its key markets. We did so by completing our first two acquisitions and by recruiting two leading executives from the industry to head our Home and Mobile and Personal operations.

NXP’s key customers include Nokia, Motorola, SonyEricsson, BenQ, Samsung, Philips, and TCL.