(Reuters) - NXP Semiconductors NV (NXPI.O), whose buyout deal with U.S. chipmaker Qualcomm Inc (QCOM.O) fell through due to lack of approval from China, said on Thursday it would buy back $5 billion worth of shares.
FILE PHOTO: A man works on a tent for NXP Semiconductors in preparation for the 2015 International Consumer Electronics Show (CES) at Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 4, 2015. REUTERS/Steve Marcus/File Photo
The company said Qualcomm has informed the company it would pay $2 billion breakup fee by 9 a.m., New York City time, on Thursday.
NXP also reported second-quarter revenue of $2.29 billion, a 4 percent increase from last year, missing the average analyst estimate of $2.36 billion, according to Thomson Reuters I/B/E/S.
Reporting by Supantha Mukherjee in Bengaluru
