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Semiconductor shares jump after EU introduces single charging port

Published 10/04/2022, 07:01 AM
Updated 10/04/2022, 07:06 AM
© Reuters. FILE PHOTO: The logo of semiconductor manufacturer Infineon is seen in Villach, Austria, June 3, 2018. REUTERS/Lisi Niesner/File Photo

LONDON (Reuters) - Shares in European semiconductor manufacturers rose on Tuesday after the European Parliament approved rules to introduce a single charging port for mobile phones, tablets and cameras to be in use across the bloc by 2024.

Shares in ASM International (OTC:ASMIY), Infineon (OTC:IFNNY), STMicroelectronics and BESI rose between 4.7% and 7.3% after the announcement.

The vote confirms an earlier agreement among EU institutions and will make USB-C connectors used by Android-based devices the EU standard, forcing Apple (NASDAQ:AAPL) to change its charging port for iPhones and other devices.

STMicro and Infineon are two of Apple's suppliers.

Latest comments

good call
+1
So finally this European parliament makes a decision... Who would have thought? 🤔
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