Semiconductor shares jump after EU introduces single charging port

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FILE PHOTO: The logo of semiconductor manufacturer Infineon is seen at its Austrian headquarters in Villach

LONDON (Reuters) – Shares in European semiconductor manufacturers rose on Tuesday after the European Parliament approved rules to introduce a single charging port for mobile phones, tablets and cameras to be in use across the bloc by 2024.

Shares in ASM International, Infineon, STMicroelectronics and BESI rose between 4.7% and 7.3% after the announcement.

The vote confirms an earlier agreement among EU institutions and will make USB-C connectors used by Android-based devices the EU standard, forcing Apple to change its charging port for iPhones and other devices.

STMicro and Infineon are two of Apple’s suppliers.

(Reporting by Joice Alves; Editing by Amanda Cooper)

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