GREENSBORO, North Carolina and AUBURN, Mich., November 02, 2022 (GLOBE NEWSWIRE) — Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, and SK Siltron CSS, a manufacturer of semiconductor wafers, today announced that they have finalized a multi-year supply agreement for bare and epitaxial silicon carbide (SiC) wafers.
This agreement will support the resilience of the national semiconductor supply chain and greater ability to meet the growing demand for advanced silicon carbide solutions, particularly in the automotive market. This agreement will also provide end users with a level of protection and confidence as customers adopt Qorvo’s industry leading SiC Gen 4 FET solutions.
SiC devices are more efficient at handling high powers and conducting heat than traditional silicon. When used in electric vehicle (EV) system components, it allows more efficient transfer of electricity from the battery to the motor, increasing the range of an EV by 5% to 10%.
About SK Siltron CSS
SK Siltron CSS partners with global semiconductor manufacturers by providing state-of-the-art compound semiconductor wafer solutions. A subsidiary of South Korea based SK Siltrona part of the SK GroupSK Siltron CSS is able to leverage the global resources available within the SK Group to achieve its vision of transforming the world through sustainable compound semiconductor solutions.
About SK Group
SK Group, South Korea’s second-largest conglomerate, is a collection of industry-leading global companies innovating in semiconductors, sustainable energy, telecommunications and life sciences. Situated at SeoulSK invests in building sustainable businesses around the world with a shared commitment to reducing global greenhouse gas emissions and increasing the use of renewable energy.
The combined SK businesses have over $139 billion of worldwide annual turnover and employ more than 100,000 people worldwide. Saskatchewan companies are investing billions of dollars in expanding their WE presence with commercial operations or partnerships in hydrogen energy and fuel cells, EV battery manufacturing and technology, energy storage solutions, pharmaceutical manufacturing and development, semiconductors and materials advances. For more information, visit sk.com.
Qorvo (Nasdaq: QRVO) provides innovative semiconductor solutions that make a better world possible. We combine product and technology leadership, systems-level expertise, and global manufacturing scale to quickly solve our customers’ most complex technical challenges. Qorvo serves various high-growth segments of major global markets, including consumer electronics, smart home/IoT, automotive, electric vehicles, battery-powered devices, network infrastructure, healthcare and aerospace/ defense. Visit www.qorvo.com to find out how our diverse and innovative team helps connect, protect and power our planet.
Qorvo is a registered trademark of Qorvo, Inc. in the WE and in other countries. All other trademarks are the property of their respective owners.
|Contact with Investor Relations: Doug DeLietoVice President, Investor Relations
Telephone +1 336-678-7968
|Media Contact: Brent DietzQorvo Director of Corporate Communications
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements regarding our plans, objectives, statements and assertions, and are not historical facts and are generally identified by the use of terms such as “may”, “shall”, “should”, “could”, “expect”, “plan”, “anticipate “, “believes”, “estimate”, “predict”, “potential”, “continue” and similar words, although certain forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent the judgment and management’s current expectations, but our actual results, events and performance could differ materially from those expressed or implied by the forward-looking statements. We do not intend to update update any of these forward-looking statements or to publicly announce the results of any revisions to these forward-looking statements, except to the extent required by WE federal securities laws. Our business is subject to numerous risks and uncertainties, including those related to fluctuations in our operating results; our substantial dependence on developing new products and securing design contracts; our dependence on several large customers for a substantial portion of our revenues; continued volatility and uncertainty in customer demand, global economies and financial markets resulting from the impact of the COVID-19 pandemic, conflicts in Ukraine or other macroeconomic factors; loss of revenue if defense and aerospace contracts are canceled or delayed; our dependence on third parties; risks associated with sales through distributors; risks associated with operating our manufacturing facilities; business interruptions; low manufacturing yields; increased inventory risks and costs, including under long-term supply agreements, due to the timing of customer forecasts; our inability to effectively manage or maintain scalable relationships with chipset vendors; our ability to continue to innovate in a highly competitive industry; underutilization of manufacturing facilities; adverse changes in interest rates, prices of certain precious metals, utility rates and foreign exchange rates; our acquisitions and other strategic investments do not achieve our financial or strategic objectives; our ability to attract, retain and motivate key employees; warranty claims, product recalls and product liability; changes to our effective tax rate; changes in the favorable tax status of certain of our subsidiaries; the enactment of international or national tax legislation, or changes in regulatory guidance; risks associated with environmental, health and safety regulations and climate change; risks related to international sales and operations; economic regulation in China; changes in government trade policies, including the imposition of customs duties and export restrictions; we may not be able to generate sufficient cash to service all of our debt; restrictions imposed by agreements governing our indebtedness; our dependence on our intellectual property portfolio; claims for infringement of third-party intellectual property rights; security breaches and other similar disruptions compromising our information; the theft, loss or misuse of personal data by or about our employees, customers or third parties; provisions of our governing documents and Delaware the law may discourage takeovers and business combinations that our shareholders might consider to be in their best interests; and the volatility of the price of our common shares. These and other risks and uncertainties, which are further described under “Risk Factors” in Part I, Item 1A. our annual report on Form 10-K for the fiscal year ended April 2, 2022 and from Qorvo subsequent reports and statements filed with the Security and Exchange Commissioncould cause actual results and developments to differ materially from those expressed or implied by any of these forward-looking statements.
Source: Qorvo, Inc.; SK Siltron CSS
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