NXP Semiconductors is one of the Worldwide Top 20 Semiconductor Sales Leaders, and was originally founded by Philips, who had converted their former vacuum tube manufacturing sites to semiconductor fabs. Formerly known as Philips Semiconductors, the company was sold by Philips to a consortium of private equity investors in 2006. The new name, NXP, stood for the consumer's "next experience", according to then-CEO Frans van Houten. On August 6, 2010, NXP completed its IPO, with shares trading on NASDAQ under the ticker symbol NXPI.

NXP Semiconductors provides High Performance Mixed Signal and Standard Product solutions based on its RF, analog, power management, interface, security and digital processing expertise. More informally, NXP has characterized its strategy as focusing on "products with no big chip in the middle." These semiconductors are used in a wide range of "smart" automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. Headquartered in the Netherlands, the company has approximately 24,000 employees working in more than 25 countries and posted sales of USD 4.2 billion in 2011. NXP's shipment-based revenue in Greater China is twice as big compared to Europe, and 8,000 of the company's employees are based in China.