PALO ALTO, U.S. -- Qualcomm's ambition to become an automotive chipmaker ended in smoke on July 25, after it failed to secure approval from Chinese authorities to take over NXP Semiconductors, becoming another high-profile victim of the Washington-Beijing trade row.
The U.S. chipmaker announced on July 25 that it will drop its $44 billion takeover bid for Dutch automotive chipmaker NXP. China did not veto the bid but remained silent on the deal as the deadline drew near, prompting Qualcomm to pull out.
