QuickLogic Establishes Wholly Foreign Owned Enterprise in China
June 19 2017 - 7:05AM
QuickLogic Corporation (NASDAQ:QUIK), an innovator and developer of
ultra-low power programmable sensor processing solutions, display
bridges, FPGAs, and embedded FPGA (eFPGA) IP, established a Wholly
Foreign Owned Enterprise (WFOE) in Shanghai, China to accelerate
the company’s expansion in China and other Asian markets. This
complements the company’s existing research and development and
support center in India and the recently established eFPGA IP
support center in Taiwan.
“By using the WFOE structure for our new Chinese venture we are
able to maintain 100% control and ownership of the new enterprise,
and through that, optimize the focus on our goals and protection of
our IP,” said Brian Faith, president and CEO of QuickLogic
Corporation. “With eight of the top ten smartphone companies and a
rapidly expanding market for wearable and voice-enabled IoT
products, China represents a huge opportunity for QuickLogic. We
believe that having a WFOE in Shanghai will enable us to address
these opportunities more effectively and accelerate our numerous
EOSTM S3 and eFPGA engagements with major Chinese OEMs.”
About QuickLogicQuickLogic Corporation
(NASDAQ:QUIK) enables OEMs to maximize battery life for highly
differentiated, immersive user experiences with Smartphone,
Wearable and IoT devices. QuickLogic delivers these benefits
through industry leading ultra-low power customer programmable SoC
semiconductor solutions, embedded software, and algorithm solutions
for always-on voice and sensor processing. The Company’s embedded
FPGA initiative also enables SoC designers to easily implement post
production changes, and increase revenue by providing hardware
programmability to their end customers. For more information about
QuickLogic, please visit www.quicklogic.com.
Forward Looking StatementsThis press release
contains forward-looking statements regarding our future business
expectations, which are subject to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“will,” “expects,” “anticipates,” “future,” “intends,” “plans,”
“believes,” “estimates,” “confident” and similar statements. Among
other things, quotations from management in this announcement, as
well as the Company’s strategic and operational plans, contain
forward-looking statements. The Company may also make written
or oral forward-looking statements in its quarterly reports to
the U.S. Securities and Exchange Commission (the “SEC”), in
its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are
not historical facts, including statements about the Company’s
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. These forward-looking statements are only
predictions and may differ materially from actual results due to a
variety of factors including: changes in the Company’s goals and
strategies; delays in the market acceptance of the Company’s
existing and new products in the U.S., China and other Asian
countries; the ability to convert design opportunities into
customer revenue; our ability to replace revenue from end-of-life
products; the level and timing of customer design activity; the
market acceptance of our customers’ products; the risk that new
orders may not result in future revenue; our ability to introduce
and produce new products based on advanced wafer technology on a
timely basis; our ability to adequately market the low power,
competitive pricing and short time-to-market of our new products;
intense competition, including the introduction of new products by
competitors; our ability to hire and retain qualified personnel;
changes in product demand or supply; capacity constraints; enhanced
government policies and regulations relating to its industry; and
general economic conditions. These and other potential factors and
uncertainties that could cause actual results to differ from the
results predicted are described in more detail in the Company’s
public reports filed with the SEC, including the risks discussed in
the “Risk Factors” section in the Company’s Annual Reports on
Form 10-K, Quarterly Reports on Form 10-Q and in the
Company’s prior press releases, which are available on the
Company's Investor Relations website at http://ir.quicklogic.com/
and on the SEC website at www.sec.gov. In addition, please note
that the date of this press release is June 19, 2017, and any
forward-looking statements contained herein are based on
assumptions that we believe to be reasonable as of this date. We
undertake no obligation to update these statements as a result of
new information or future events.
QuickLogic and the QuickLogic logo are registered trademarks of
QuickLogic Corporation. All other brands or trademarks are the
property of their respective holders and should be treated as
such.
Company ContactSue CheungChief Financial
Officer(408) 990-4076Scheung@quicklogic.com
IR ContactCathy Mattison/Kirsten Chapman(415)
433-3777ir@quicklogic.com
Code: QUIK-E
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