Nexperia parent Wingtech to sell electronics arm

Wingtech, the Chinese parent company of Nexperia, plans to sell almost half of its business and concentrate more on chipmaking. The company said in a filing that the reason for this is the "changes in the geopolitical environment." Less than a month ago, the firm was added to the U.S. government's "entity" list as an investor involved in Chinese government efforts to acquire sensitive chipmaking technology.