SHANGHAI, China, March 27, 2015 (GLOBE NEWSWIRE) -- NXP Semiconductors (Nasdaq:NXPI) today announced the signing of a Memorandum of Understanding with Chinese commercial real estate developer B.M. Holding Group and integrated IT service provider Digital China Holdings Ltd. The Memorandum officially establishes the parties as strategic partners in the construction of a large-scale "smart" business district in the center of Shanghai, incorporating innovative wireless networking technology.
The long-term, comprehensive agreement will see NXP supply B.M. Holding with the latest in secure Internet of Things (IoT) technology. When construction completes on the new business district in 2017, it will represent a landmark complex that will help drive local economic development.
NXP executive vice president Guido Dierick, invited as a part of the official delegation of PM Rutte, said: "As Europe's leading semiconductor company, NXP has built extensive experience in enabling Secure Connections for a Smarter World on a global scale. We are excited to combine our latest technology innovations and knowledge with leading Chinese partners to enable this large-scale smart business district."
"NXP has been in the Chinese market for thirty years and this strategic cooperation with local Chinese partners represents yet another breakthrough in local cooperation," said NXP senior vice president and NXP China CEO Li Zheng. "Through our secure connected smart city solutions, we are aiding the development of IoT in China."
The project will consist of a 1km² smart commercial complex constructed in Shanghai's Zhabei District, on the north bank of the Suzhou Creek. The development will use Near Field Communication (NFC), smart furniture, community illumination, resource control, safety monitoring, and numerous other cutting edge technologies. These technologies will be used in every office, hotel, apartment block, shopping mall, and residential property within the area, creating a new, secure IoT experience and 'Smarter World' for its residents.
"NXP's secure connected wireless IoT solutions are supporting the creation of smart commercial developments," said B.M. Holding executive director and president, Yongjian Sun. "This high-quality commercial district will be a landmark complex within the center of Shanghai, providing investment value to the business community and driving local economic development."
"Together with NXP's world-leading IoT solutions and our building control, integrated systems, cloud computing, mobile connectivity, and practical IoT management, we will achieve true integrated innovation," said Digital China vice president of engineering, Fangping Li.
About NXP Semiconductors
NXP Semiconductors N.V. (Nasdaq:NXPI) creates solutions that enable secure connections for a smarter world. Building on its expertise in high-performance, mixed-signal electronics, NXP is driving innovation in the areas of connected cars, cyber security, portables & wearables, and the Internet of Things. NXP has operations in more than 25 countries, and posted revenue of US$5.65 billion in 2014. Find out more at www.nxp.com.
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