(Corrects headline to remove reference to 'first phase')
(Reuters) - U.S. chipmaker Qualcomm Inc said on Thursday it would buy back about $16 billion of its common stock as part of the previously announced $30 billion stock repurchase plan.
Qualcomm is seeking to compensate investors for the collapse of its $44 billon acquisition of NXP Semiconductors in July due to Chinese opposition.
(Reporting by Akanksha Rana in Bengaluru; Editing by Arun Koyyur)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)