Chipmaker Infineon Technologies AG said Wednesday that it was selected by Nokia to supply chips for some of its mobile phones.
The Munich-based company said its "integrated single-chip E GOLD voice" platform will be used by the Finnish phone maker in a selection of its upcoming slate of new low-cost phones aimed at entry-level market buyers.
Shares of Infineon rose 3.5 percent to EUR 11.18 (US$14.48) on news of the deal, the details of which were not released, reports AP.
"Nokia aims to further improve the power performance in our entry-level phones and reduce their size," said Soren Petersen, senior vice president of Nokia's Entry Business unit. "Adding Infineon's single-chip solution to Nokia's portfolio of chipset suppliers helps us ensure access to optimized solutions for this important market."
Infineon is one of Europe's biggest producers of the chips that are used to make computers run, expand memory and help other products from phones to automobiles work. Nokia Corp. is the world's biggest maker of mobile phones.
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