STMicro signs $500 million supply deal with China's Huawei

Reuters News
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Posted: Jul 02, 2015 7:45 AM

TOULOUSE, France (Reuters) - French microchip maker STMicro signed a $500 million with China's Huawei on Thursday to bolster its supply relationship with the Chinese telecom equipment provider, the French government said in a statement.

The five-year deal, signed during a visit to France by Chinese Prime Minister Li Keqiang, is expected to lead to an increase in orders for the semiconductor manufacturer, the statement said.

(Reporting by Julien Ponthus; editing by Jason Neely)