IQE PLC Iqe's Wireless Business Unit Renews Major Contract With Tier 1 Customer
24 July 2018 - 4:00PM
UK Regulatory
TIDMIQE
IQE plc
IQE's Wireless Business Unit renews major contract with Tier 1 Customer
Cardiff, UK. 24(th) July 2018: IQE plc (AIM: IQE; "IQE", the "Group"),
the leading global supplier of advanced wafer products and wafer
services to the semiconductor industry, announces that it has
successfully renegotiated its long-term supply contract with a premier
tier one customer for the supply of wafer products used in wireless
applications, and in doing so extended the range of products covered and
increased the overall IQE share of the customers' epiwafer requirements
. The contract is estimated to be worth in the order of USD60 million
through to September 2019.
The supply contract guarantees IQE 80% of the customer's demand for
epiwafers and underlines the strength of the long-term customer
relationship that IQE has developed over many years, having consistently
been recognised as one of the customer's best performing suppliers.
IQE's Wireless segment continues to leverage its global manufacturing
facilities to fulfill the supply contract from its North American
facilities in Massachusetts, and North Carolina, as well as its main
wireless manufacturing site in Taiwan.
The contract covers epiwafer products for radio frequency (RF)
applications including power amplifiers (PAs), low noise amplifiers
(LNAs) and switches used in a wide range of connected devices such
smartphones, tablets, PCs, routers and other Internet of Things (IoT)
devices. Demand for compound semiconductor enabled devices is expected
to underpin the roll-out of 5G over the coming years.
Daily Hill, Head of IQE's Wireless Business Unit said:
"This contract revewal confirms our position as a clear technology
leader and the number one choice for advanced semiconductor products for
wireless applications.
"IQE's epiwafer products have been behind the global adoption of 4G/LTE
and WiFi systems and this major supply contract underlines the
world-leading performance which IQE products provide for current and
next-generation wireless applications including the global roll-out of
5G."
Contacts:
IQE plc
Drew Nelson
Chris Meadows +44 (0) 29 2083 9400
Canaccord Genuity
Simon Bridges
Richard Andrews + 44 (0) 20 7523 8000
Peel Hunt
Edward Knight
Nick Prowting +44 (0) 20 7418 8900
NOTE TO EDITORS
About IQE
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http://iqep.com
IQE is the leading global supplier of advanced semiconductor wafers with
products that cover a diverse range of applications, supported by an
innovative outsourced foundry services portfolio that allows the Group
to provide a 'one stop shop' for the wafer needs of the world's leading
semiconductor manufacturers.
IQE uses advanced crystal growth technology (epitaxy) to manufacture and
supply bespoke semiconductor wafers 'epi-wafers' to the major chip
manufacturing companies, who then use these wafers to make the chips
which form the key components of virtually all high technology systems.
IQE is unique in being able to supply wafers using all of the leading
crystal growth technology platforms.
IQE's products are found in many leading-edge consumer, communication,
computing and industrial applications, including a complete range of
wafer products for the wireless industry, such as smartphones and
wireless infrastructure, Wi-Fi, base stations, GPS, and satellite
communications; optical communications, optical storage, printing,
thermal imagers, leading-edge medical products, barcode, ultra high
brightness LEDs, a variety of advanced silicon based systems and high
efficiency concentrator photovoltaic (CPV) solar cells.
The manufacturers of these chips are increasingly seeking to outsource
wafer production to specialist foundries such as IQE in order to reduce
overall wafer costs and accelerate time to market.
IQE also provides bespoke R&D services to deliver customised materials
for specific applications and offers specialist technical staff to
manufacture to specification either at its own facilities or on the
customer's own sites. The Group is also able to leverage its global
purchasing volumes to reduce the cost of raw materials. In this way
IQE's outsourced services, provide compelling benefits in terms of
flexibility and predictability of cost, thereby significantly reducing
operating risk.
IQE operates multiple manufacturing and R&D facilities worldwide.
(END) Dow Jones Newswires
July 24, 2018 02:00 ET (06:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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