NXP has 36% China exposure. Half domestic and half multinationals. Of the half, 1/3rd is supported by domestic fabs including TSMC Nanjing, Hua Hong and SMIC (China for China). NXP outsources 60% of its wafers to 3rd party foundries and build the rest in-house. No 300mm in-house fab but partnership with VIS on 300mm will drive its gross margins by 200bps.
Source: Sravan Kundojjala
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