FT: NXP supplying NFC chips for iPhone 6

|About: NXP Semiconductors (NXPI)|By:, SA News Editor

The FT backs up Wired in reporting the iPhone 6 will support an NFC-based mobile payments platform. The paper adds NXP (NASDAQ:NXPI) will be the NFC chip supplier.

NXP is already the supplier of Apple's M7 motion co-processor/sensor hub (introduced in iPhone/iPad models last year). Its NFC chips are part of an identification chip business that produced Q2 sales of $343M (+1% Y/Y). Broadcom is a leading NFC chip rival.

Apple has been the biggest mobile OEM to oppose NFC. Though usage has been low in the U.S., the technology has fared better in Japan and a few other international markets. The adoption of chip-and-PIN payment terminals (can potentially support NFC) could boost U.S. uptake.

NXPI +3.6% premarket.