GCT Semiconductor Signs MOU with Samsung to Accelerate the Development of 4G/5G Chipsets and Modules
August 13 2024 - 6:45AM
Business Wire
GCT aims to advance 4G/5G solutions and further
expand its ecosystem worldwide
GCT Semiconductor Holding Inc. (“GCT”) (NYSE: GCTS), a leading
designer and supplier of advanced 4G and 5G semiconductor
solutions, today announced the signing of a Memorandum of
Understanding (MOU) with Samsung Electronics Co., Ltd (Samsung)
that aims to accelerate the development of 4G/5G chipsets and
modules, as well as drive the adoption by device makers. GCT will
work together with Samsung to promote the total Samsung/GCT
solution and to strengthen the ecosystem of OEM/ODM device makers
in order to support wireless operators worldwide, including the
Saudi Arabian oil group Aramco, in the 450 MHz and 4.0 GHz
business, mission-critical public safety, and more.
With the growing need to connect everyone and everything, 5G
plays a crucial role in delivering higher data speed, higher
reliability and massive network capacity. Using GCT’s 5G chip, GCT
is focused on advancing the 5G ecosystem of OEM and ODM device
makers for CPEs, mobile routers, ruggedized industrial phones, IoT
devices, and more. Samsung will provide test environments as well
as interoperability and device testing (IoDT) support for GCT’s
chipset certification.
“GCT is pleased to continue collaboration with its long-standing
partner Samsung,” said John Schlaefer, CEO of GCT. “We look forward
to expanding the 4G/5G ecosystem in Saudi Arabia and beyond, and
supporting 5G and 4G wireless operators with their rising needs as
they address increasing demand for faster data speed and more
capacity.”
About GCT Semiconductor Holding, Inc.
GCT is a leading fabless designer and supplier of advanced 5G
and 4G LTE semiconductor solutions. GCT’s market-proven solutions
have enabled fast and reliable 4G LTE connectivity to numerous
commercial devices such as CPEs, mobile hotspots, routers, M2M
applications, smartphones, etc., for the world’s top wireless
carriers. GCT’s system-on-chip solutions integrate radio frequency,
baseband modem and digital signal processing functions, therefore
offering complete 4G and 5G platform solutions with small form
factors, low power consumption, high performance, high reliability,
and cost-effectiveness. For more information, visit
www.gctsemi.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1955. These forward-looking
statements include, without limitation, statements regarding GCT’s
collaboration with Samsung and availability of 4G/5G chipsets and
modules. Words such as “believe,” “project,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result,” and similar expressions are
intended to identify such forward-looking statements.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to
significant risks and uncertainties that could cause the actual
results to differ materially from the expected results. Most of
these factors are outside the Company’s control and are difficult
to predict. Factors that may cause actual future events to differ
materially from the expected results, include, but are not limited
to: the ability of the Company to develop its 5G products and
generate revenue; the ability of the Company to enter into and meet
the obligations under partnership and collaboration agreements; the
ability of the Company to grow and manage growth profitability and
retain its key employees; the Company’s financial and business
performance, including the Company’s financial projections and
business metrics; changes in the Company’s strategy, future
operations, financial position, estimated revenues and losses,
forecasts, projected costs, prospects and plans; the Company’s
inability to anticipate the future market demands and future needs
of its customers; the impact of component shortages, suppliers’
lack of production capacity, natural disasters or pandemics on the
Company’s sourcing operations and supply chain; the Company’s
future capital requirements and sources and uses of cash; the
ability of the Company to raise sufficient capital to fund its
operations; the ability to implement business plans, forecasts, and
other expectations, including the growth of the 5G market; the risk
that the Company may not be able to repay its debt; the risk of
economic downturns that affects the Company's business operation
and financial performance; the risk that the Company may not be
able to develop and design its products acceptable to its
customers; actual or potential conflicts of interest of the
Company's management with its public stockholders; and other risks
and uncertainties indicated from time to time in the Company’s
filings with SEC, including registration statements on Form S-1 and
quarterly reports on Form 10-Q and those disclosures under the
"Risk Factors" sections therein. The foregoing list of factors is
not exhaustive. Forward-looking statements speak only as of the
date they are made. Readers are cautioned not to put undue reliance
on forward-looking statements, and the Company assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240813111771/en/
Investor relations website: investors.gctsemi.com
Investor relations contact: Gateway Group, Matt Glover &
Ralf Esper, GCT@gateway-grp.com Media contact:
media@gctsemi.com
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