Semiconductor shares jump after EU introduces single charging port
FILE PHOTO: The logo of semiconductor manufacturer Infineon is seen in Villach, Austria, June 3, 2018. REUTERS/Lisi Niesner/File Photo
LONDON : 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, Infineon, STMicroelectronics and BESI rose between 4.7 per cent and 7.3 per cent 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 to change its charging port for iPhones and other devices.
STMicro and Infineon are two of Apple's suppliers.
