Renesas has reportedly struck a deal with Synaptics to sell off its display chip business.
The company’s display chips are used in a wide range of products, including Apple iPhones. Apple was in talks to buy the division, but the companies failed to reach a deal and Renesas opted for Synaptics instead.
According to Reuters, Renesas is selling non-core assets and focusing on the auto sector. The deal has not been officially announced yet. Sources told Reuters that it will take several weeks to reach a formal decision.
Should the deal go ahead, it will further bolster Synaptics’ position. The company is already the leading supplier of capacitive sensing technology and its touchscreens and touchpads are used by practically every major consumer electronics outfit, including Apple, Asus, HP, LG, Lenovo and many more.