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Sudden!Chinese ODM Giants Acquire American Chip Factories!

2023-12-19 17:38:33

The latest news, Qorvo, a wireless connection chip manufacturer, said that the final agreement has been reached to sell its assembly and test facilities located in Beijing and Texas, China to contract manufacturer Lixun Precision Industry.The financial terms of the transaction have not been disclosed and are expected to be completed in the first half of 2024.

Qorvo added that after the transaction is completed, Lixun Precision will acquire the operation and assets of each factory, including real estate, plant and equipment, as well as existing employees, and Qorvo will continue to retain its sales, engineering and customer support employees in China.

It is reported that Lixun Precision will assemble and test products for Qorvo according to the newly signed long -term supply agreement.

Qorvo Chief Financial Officer Grant Bronn said: The transaction further promoted our efforts to reduce capital intensity, while supporting our long -term gross profit margins and ensuring the continuity of Chinese customers.

The company said that the Beijing and Texas plants mainly support Qorvo's integrated advanced honeycomb products.

Data show that Qorvo is produced in 5G base stations and honeycomb and Wi-Fi-Fi-Fi-FI-connected radio frequency chips in smartphones and other small tools.The important customer of Qorvo is Apple. As of the fiscal year in April, Apple accounted for 37%of the company's total revenue, and Qorvo still benefited from the strong needs of China's iPhone.In addition to Apple, Qorvo's customers also include Huawei, OPPO, Xiaomi, Lenovo, Samsung, Qualcomm, etc.

*Disclaimer: The news of this article is derived from Qorvo and It is organized by Huaqiang Microelectronics. The news is only for communication and learning without official confirmation.