NXP Semiconductors and ST Microelectronics plan to merge their wireless businesses to build a ‘NewCo’ that will focus on wireless components, especially chips and chipsets for the cellular handset market. At present levels of sales for the wireless chips of the two constituents, ‘NewCo’ will generate about $3.0 billion in annual revenue, and have 9,000 employees, making it the third largest supplier of cellphone radio chips in terms of market share.