NXP has a turnover of $9.26 billion in 2017. This is 2.5% lower than in the previous year, due to the sale of the Standard Products division earlier in 2017. This division was responsible for 12% of the company’s turnover. Sales of chips for cars, smartphones, and secure cards rose by 8% to $8.75 billion. The profit for 2017 was $2.2 billion.
Sales grew particularly strongly in the Secure Connected Device and Automotive departments. The Automotive group’s turnover amounted to $3.76 billion, an increase of 11%. The turnover of the Secure Connected Device group increased by 21% to $2.59 billion.
These good annual figures come at a troubled moment for the Eindhoven company. The chip manufacturer is still waiting for a takeover by Qualcomm, but it has yet to be approved by the Chinese competition authorities, after which shareholders will have to be persuaded. In the meantime, Broadcom has plans to take over Qualcomm for $120 billion.
CEO Rick Clemmer still stands behind the acquisition: “We continue to believe that our transaction with Qualcomm is critical to supporting our customers’ long-term requirements in both autonomous driving and secure IoT given our complementary product portfolios, Qualcomm’s strength in connectivity and high-end processing and the difficulty of organically building leadership solutions. We are working diligently to close our transaction in early 2018. As of January 18th, the only outstanding governmental regulatory approval required is from the Ministry of Commerce of the Government of China. Once obtained, the companies can execute the final tender offer process.”