Synaptics is set to acquire Renesas SP Drivers, the company which supplies displays for the iPhones, right from under Apple’s nose, Reuters reports. The Cupertino-based company was earlier reported to be eyeing a 55 percent stake in the company, but the talks never went through. According to the publication, the deal is believed to be worth $475 million. Also Read - iPhone 13 launch date and more details tipped as part of new leaksAlso Read - iPhone 12 Mini reaches end of production already, say rumours
Synaptics is known for its touchscreen technology and with this acquisition; it is likely to integrate its technology with Renesas display technology into one chip. According to experts, no one in the industry can currently do touch display driver integration quite well, and Synaptics would have no competition. This would not only result in considerable savings in manufacturing costs, but also could pave way for a renewal of partnerships between Synaptics and Apple. The former used to supply the click-wheel on the earlier iPods. Also Read - Flipkart Mobiles Bonanza sale top deals: iPhone SE, Poco X3 Pro and more on discount
Earlier this year, a report surfaced online claiming that Apple had offered $479 million for Renesas in the hope of building better displays together and better compete against the likes of Samsung and HTC. The deal however didn t see the light of the day, and it paved the way for Synaptics acquisition.