NYSE: MX
MAGNACHIP SEMICONDUCTOR CorpCIK 0001325702 · SIC 3674 · Semiconductors
We are a designer and manufacturer of analog and mixed-signal power semiconductor platform solutions for various applications, including industrial, automotive, communication, consumer and computing. We have a proven record with approximately 45 years of operating history, a portfolio of more than… About this business →
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Latest financial statements
From 10-Q filed Aug 10, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(In thousands of U.S. dollars, except share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Net sales | 44,704 | 47,622 | 90,912 | 92,344 |
| Cost of sales | 36,056 | 37,910 | 75,070 | 73,270 |
| Gross profit | 8,648 | 9,712 | 15,842 | 19,074 |
| Operating expenses: | ||||
| Selling, general and administrative expenses | 8,747 | 8,976 | 16,413 | 18,179 |
| Research and development expenses | 7,896 | 6,488 | 14,594 | 11,925 |
| Other charges | 1,981 | 846 | 1,981 | 846 |
| Total operating expenses | 18,624 | 16,310 | 32,988 | 30,950 |
| Operating loss | (9,976) | (6,598) | (17,146) | (11,876) |
| Interest income | 949 | 1,322 | 2,012 | 2,862 |
| Interest expense | (320) | (373) | (693) | (796) |
| Foreign currency gain (loss), net | (526) | 10,797 | (641) | 10,392 |
| Other income (loss), net | 286 | (83) | 276 | 31 |
| Income (Loss) from continuing operations before income tax benefit, net | (9,587) | 5,065 | (16,192) | 613 |
| Income tax benefit, net | (1,986) | (4,138) | (3,894) | (4,539) |
| Income (Loss) from continuing operations | (7,601) | 9,203 | (12,298) | 5,152 |
| Income (Loss) from discontinued operations, net of tax | 2,786 | (8,880) | 2,836 | (13,707) |
| Net income (loss) | (4,815) | 323 | (9,462) | (8,555) |
| Basic earnings (loss) per common share— | ||||
| Continuing operations | (0.21) | 0.26 | (0.34) | 0.14 |
| Discontinued operations | 0.08 | (0.25) | 0.08 | (0.37) |
| Total | (0.13) | 0.01 | (0.26) | (0.23) |
| Diluted earnings (loss) per common share— | ||||
| Continuing operations | (0.21) | 0.25 | (0.34) | 0.14 |
| Discontinued operations | 0.08 | (0.24) | 0.08 | (0.37) |
| Total | (0.13) | 0.01 | (0.26) | (0.23) |
| Weighted average number of shares— | ||||
| Basic | 36,454,812 | 36,083,703 | 36,431,327 | 36,483,551 |
| Diluted | 36,454,812 | 36,768,647 | 36,431,327 | 37,209,622 |
Consolidated Balance Sheets (Unaudited)
(In thousands of U.S. dollars, except share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 87,936 | 103,756 |
| Accounts receivable, net | 23,788 | 26,022 |
| Inventories, net | 34,136 | 34,151 |
| Other receivables | 4,096 | 2,882 |
| Prepaid expenses | 4,346 | 5,062 |
| Hedge collateral (Note 8) | 4,540 | 1,200 |
| Other current assets (Note 18) | 5,631 | 3,782 |
| Total current assets | 164,473 | 176,855 |
| Property, plant and equipment, net | 92,243 | 100,204 |
| Operating lease right-of-use assets | 1,423 | 2,070 |
| Intangible assets, net | 395 | 454 |
| Long-term prepaid expenses, net | 498 | 584 |
| Deferred income taxes | 60,217 | 64,248 |
| Other non-current assets | 5,602 | 7,114 |
| Total assets | 324,851 | 351,529 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities | ||
| Accounts payable | 21,127 | 20,848 |
| Other accounts payable | 5,690 | 11,444 |
| Accrued expenses (Note 7) | 7,696 | 6,929 |
| Accrued income taxes | 38 | 81 |
| Operating lease liabilities | 1,144 | 1,427 |
| Current portion of long-term borrowings (Note 11) | 25,949 | — |
| Other current liabilities | 6,044 | 2,681 |
| Total current liabilities | 67,688 | 43,410 |
| Long-term borrowings (Note 11) | 15,566 | 44,599 |
| Accrued severance benefits, net | 11,908 | 11,502 |
| Non-current operating lease liabilities | 324 | 690 |
| Other non-current liabilities | 2,833 | 3,078 |
| Total liabilities | 98,319 | 103,279 |
| Commitments and contingencies (Note 18) | ||
| Stockholders’ equity | ||
| Common stock, $0.01 par value, 150,000,000 shares authorized, 58,318,707 shares issued and 36,510,111 outstanding at June 30, 2026 and 58,027,696 shares issued and 36,219,100 outstanding at December 31, 2025 | 581 | 579 |
| Additional paid-in capital | 283,263 | 281,537 |
| Retained earnings | 205,390 | 214,852 |
| Treasury stock, 21,808,596 shares at June 30, 2026 and 21,808,596 shares at December 31, 2025, respectively | (229,910) | (229,910) |
| Accumulated other comprehensive loss | (32,792) | (18,808) |
| Total stockholders’ equity | 226,532 | 248,250 |
| Total liabilities and stockholders’ equity | 324,851 | 351,529 |
Consolidated Statements of Cash Flows (Unaudited)
(In thousands of U.S. dollars)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net loss | (9,462) | (8,555) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Depreciation and amortization | 5,637 | 6,661 |
| Provision for severance benefits | 2,338 | 2,175 |
| Loss (gain) on foreign currency, net | 5,878 | (18,085) |
| Provision (reversal) for inventory reserves | (1,224) | 845 |
| Stock-based compensation | 1,662 | 1,492 |
| Impairment charges | — | 7,362 |
| Deferred income taxes | 8 | (649) |
| Others, net | 128 | 476 |
| Changes in operating assets and liabilities | ||
| Accounts receivable, net | 1,018 | (4,600) |
| Inventories | (1,220) | (4,979) |
| Other receivables | (1,246) | (5,835) |
| Prepaid expenses | 1,380 | 4,621 |
| Other current assets | (2,882) | 675 |
| Accounts payable | 581 | 2,559 |
| Other accounts payable | (5,690) | (4,972) |
| Accrued expenses | 1,287 | (2,022) |
| Accrued income taxes | (41) | 22 |
| Other current liabilities | 160 | (546) |
| Other non-current liabilities | 400 | 8 |
| Payment of severance benefits | (689) | (9,843) |
| Others, net | (969) | 3,389 |
| Net cash used in operating activities | (2,946) | (29,801) |
| Cash flows from investing activities | ||
| Proceeds from settlement of hedge collateral | 4,334 | 2,237 |
| Payment of hedge collateral | (7,828) | — |
| Purchase of property, plant and equipment | (5,244) | (12,083) |
| Payment for intellectual property registration | (67) | (85) |
| Collection of guarantee deposits | 2,026 | 2,336 |
| Payment of guarantee deposits | (158) | (297) |
| Others, net | 49 | 180 |
| Net cash used in investing activities | (6,888) | (7,712) |
| Cash flows from financing activities | ||
| Proceeds from long-term borrowings | — | 6,964 |
| Proceeds from issuance of common stock | 66 | — |
| Acquisition of treasury stock | (201) | (4,020) |
| Repayment of financing related to water treatment facility arrangement | (217) | (225) |
| Repayment of principal portion of finance lease liabilities | (66) | (80) |
| Net cash provided by (used in) financing activities | (418) | 2,639 |
| Effect of exchange rates on cash and cash equivalents | (5,568) | 9,590 |
| Net decrease in cash and cash equivalents | (15,820) | (25,284) |
| Cash and cash equivalents | ||
| Cash and cash equivalents at beginning of period | 103,756 | 138,610 |
| Cash and cash equivalents at end of period | 87,936 | 113,326 |
| Supplemental cash flow information | ||
| Cash paid for interest on long-term borrowings | 763 | 613 |
| Cash refunded for income taxes | (437) | (1,168) |
| Non-cash investing activities | ||
| Property, plant and equipment additions in other accounts payable | 1,519 | 939 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands of U.S. dollars, except share data); (In thousands of U.S. dollars). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About MAGNACHIP SEMICONDUCTOR Corp
Source: Item 1 (Business) from the 10-K filed March 16, 2026. Description as filed by the company with the SEC.
Item 1. Business
General
We are a designer and manufacturer of analog and mixed-signal power semiconductor platform solutions for various applications, including industrial, automotive, communication, consumer and computing. We have a proven record with approximately 45 years of operating history, a portfolio of more than 950 registered patents and pending applications and extensive engineering and manufacturing process expertise. We develop and manufacture Power discrete (“Power Analog Solutions”) products and Power integrated circuit (“IC”) products. Power Analog Solutions products include metal oxide semiconductor field effect transistors (“MOSFETs”) and insulated-gate bipolar transistors (“IGBTs”) for a range of devices, including televisions, smartphones, mobile phones, wearable devices, desktop personal computers (“PCs”), notebook PCs, tablet PCs, servers, other consumer electronics, as well as automotive and industrial applications such as power suppliers, e-bikes, solar inverters, LED lighting and motor drives. Power IC products include AC-DC/DC-DC converters, LED drivers, regulators, power management integrated circuits (“PMICs”) and level shifter for a range of devices, including televisions, wearable devices, notebooks, tablet PCs and others consumer electronics, as well as automotive applications.
The wide variety of our analog and mixed-signal power semiconductor products combined with our mature technology platform allows us to address multiple high-growth end markets and rapidly develop and introduce new products in response to market demands. Our design center and substantial manufacturing operations in Korea place us at the core of the global electronics device supply chain. We believe this enables us to quickly and efficiently respond to our customers’ needs, and allows us to better serve and capture additional demand from existing and new customers. We have a long history of supplying and collaborating on product and technology development with leading innovators in the consumer electronics market. As a result, we have been able to strengthen our technology and develop products that are in high demand by our customers and end consumers. We sold approximately 350 distinct products in the year ended December 31, 2025, with a substantial portion of our revenues derived from a relatively limited number of customers.
Read full description ↓
Our business is largely driven by innovation in the consumer electronics markets and the continued adoption by consumers of worldwide of electronic devices for use in their daily lives. The consumer electronics market is large and continues to expand, largely due to consumers increasingly accessing a wide variety of rich media content, such as high definition audio and video, mobile devices, televisions and games on advanced consumer electronic devices. Electronics manufacturers are continuously implementing advanced technologies in new generations of electronic devices using analog and mixed-signal power semiconductor components, such as encoding and decoding devices that allow playback of high definition audio and video, and power semiconductors that increase power efficiency, thereby improving heat dissipation and extending battery life.
For the year ended December 31, 2025, we generated total revenues of $178.9 million, net loss of $29.7 million, operating loss of $35.9 million, Adjusted EBITDA from continuing operations of negative $15.6 million, Adjusted Operating Loss of $28.5 million and Adjusted Loss from continuing operations of $7.9 million. See “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” elsewhere in this Report for an explanation of our use of the Adjusted EBITDA, Adjusted Operating Income (Loss) and Adjusted Net Income (Loss) and a reconciliation to income (loss) from continuing operations and operating income (loss) prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”).
Recent Developments
On March 12, 2025, we announced that our Board of Directors and management team have made the decision to become a pure-play Power company to drive revenue growth, improve profitability, and maximize shareholder value.
This decision was based on the determination by our Board of Directors and management team that the Display business (the “Discontinued Business”) was not sustainable and could not be restructured in a manner that would enable the Company to achieve profitable growth. Our Board of Directors and Management team subsequently concluded that there were no viable strategic options for the Discontinued Business and decided to shut it down.
Along with the winding down of the Discontinued Business, the liquidation of Magnachip Mixed-Signal, Ltd. (“MMS”), our indirect wholly owned subsidiary that operated the Display business, was unanimously approved by our Board of Directors, and we completed the liquidation on October 29, 2025.
Our History
Our business was named “MagnaChip Semiconductor” when it was acquired from SK hynix Inc., formerly known as Hynix Semiconductor, Inc. (“SK hynix”), in October 2004.
On March 10, 2011, we completed our initial public offering. In connection with our initial public offering, we converted from a Delaware limited liability company to a Delaware corporation.
On September 1, 2020, we completed the sale of our Foundry Services Group business and our fabrication facility located in Cheongju, Korea (known as “Fab 4”) to SK keyfoundry Inc. This sale was part of a strategic shift in our operational focus to our standard products business. The Foundry Services Group business provided specialty analog and mixed-signal foundry services mainly for fabless and Integrated Device Manufacturer semiconductor companies.
On December 30, 2020, we changed our name from “MagnaChip Semiconductor Corporation” to “Magnachip Semiconductor Corporation.”
On May 30, 2023, we announced a plan to separate our standard products business, consisting of display solutions and power solutions business lines, into two different entities to better align our product strategies by enabling each entity to allocate its resources more effectively to the specific needs of its customers, as well as to enhance transparency, accountability and flexibility in business (the “Internal Separation”). To effectuate the Internal Separation, we reorganized our standard products business into two distinct businesses: (i) our Display IC and Power IC businesses, which are fabless businesses, were grouped together to form the Mixed-Signal Solutions (“MSS”) business, and (ii) our Power discrete business, which is an integrated device manufacturing (“IDM”) business, became the Power Analog Solutions business.
On January 10, 2024, we completed the Internal Separation by forming a new Korean limited liability company named “Magnachip Mixed-Signal, Ltd.” and transferring the MSS business into such subsidiary. Following the Internal Separation, our MSS business was primarily operated by MMS, and our Power Analog Solutions business was primarily operated by MSK, our already-existing Korean operating company.
On December 31, 2024, an intercompany business transfer agreement was executed between MMS and MSK. Considering the Company’s overall performance and strategic direction—as well as insights from benchmarking global competitors and feedback from our stockholders, both MSK and MMS agreed that consolidating the Power Analog Solutions and Power IC businesses under a single company would create a more effective framework for expanding and strengthening the Company’s business for Power products. Accordingly, the Company’s Power IC business was transferred from MMS to MSK, with the transfer being completed on January 1, 2025.
On March 12, 2025, we announced that our Board of Directors and management team have made the decision to become a pure-play Power company, focusing the Company’s investments on the Power Analog Solutions and Power IC businesses to enhance profitability and maximize shareholder value.
On April 6, 2025, our Board of Directors unanimously approved the plan to shut down the Discontinued Business, including the liquidation of MMS, our indirect wholly owned subsidiary that operated the Discontinued Business.
On October 29, 2025, we completed the liquidation of MMS.
Our Products
We established our Power Analog Solutions business in late 2007. We have introduced a number of Power Analog Solutions and Power IC (“Power Solutions”) products for power management in high-volume consumer applications. Power Analog Solutions products include metal oxide semiconductor field effect transistors (“MOSFETs”), and insulated-gate bipolar transistors (“IGBTs”) for a range of devices, including televisions, smartphones, mobile phones, wearable devices, desktop PCs, notebooks, tablet PCs, home appliance, other consumer electronics, automotive, and industrial applications such as power suppliers, e-bikes, photovoltaic inverters, LED lighting and motor drives. Our Power Analog Solutions business represented 89.7% and 84.9% of our total revenues for the fiscal years ended December 31, 2025 and 2024, respectively.
Our Power IC products provide power management solutions to major television suppliers and large panel display suppliers. These products include AC-DC/DC-DC converters, LED drivers, regulators, power management integrated circuits (“PMICs”) and level shifters for a range of devices, including televisions, wearable devices, notebooks, tablet PCs and other consumer electronics, as
well as automotive applications. Our Power IC business represented 10.3% and 9.7% of our total revenues for the fiscal years ended December 31, 2025 and 2024, respectively.
Market Opportunity
The market for power semiconductors is large and is expanding its applications. Recently, industrial applications such as power suppliers, e-bikes, photovoltaic inverters, LED lighting, motor drives, and automotive applications such as on board chargers, electric motor drives, electric pumps, DC-DC converters and powertrain inverters in hybrid & battery electric vehicle (HEV & BEV) are further driving growth in power semiconductor applications. Electronics device manufacturers recognize that the consumer experience plays a critical role in differentiating their products. To address and further stimulate consumer demand, electronics manufacturers have been driving rapid advances in the technology, functionality, form factor, cost, quality, reliability and power consumption of their products. Electronics manufacturers are continuously implementing advanced technologies in new generations of electronic devices using analog and mixed-signal semiconductor components, including power semiconductors that increase power efficiency, thereby improving heat dissipation and extending battery life.
Requirements of Leading Electronic Devices Manufacturers
We believe our target customers view the following characteristics and capabilities as key differentiating factors among available analog and mixed-signal power semiconductor suppliers:
Broad Offering of Differentiated Products with Advanced System-Level Features and Functions. Leading electronic devices manufacturers seek to differentiate their products by incorporating innovative semiconductor products that enable unique system-level functionality and enhance performance. These consumer electronics manufacturers seek to closely collaborate with semiconductor solutions providers that continuously develop new and advanced products and technologies that enable state-of-the-art features and functions, such as high efficiency, advanced safety and protection features, small form factors, and low power consumption.
Fast Time-to-Market with New Products. As a result of rapid technological advancements and short product lifecycles, our target customers typically prefer suppliers who have a compelling pipeline of new products and capacity to leverage a substantial intellectual property and technology base to accelerate product design and manufacturing when needed.
Ability to Deliver Cost Competitive Solutions. Electronics manufacturers are under constant pressure to deliver cost-competitive solutions. To accomplish this objective, they need strategic semiconductor suppliers that have the ability to provide system-level solutions, highly integrated products and a broad product offering at a range of price points and have the design and manufacturing infrastructure and logistical support to deliver cost competitive products.
Focus on Delivering Highly Energy-Efficient Products. Consumers increasingly seek longer run-time, environmentally friendly and energy-efficient consumer electronic products. In addition, there is an increasing regulatory focus on reducing energy consumption of consumer electronic products. As a result of a global focus on more environmentally friendly products, our customers are seeking analog and mixed-signal semiconductor suppliers that have the technological expertise to deliver solutions that satisfy these ever increasing regulatory and consumer power efficiency demands.
Our Competitive Strengths
Designing and manufacturing analog and mixed-signal power semiconductors capable of meeting the evolving functionality requirements for electronics devices are challenging. In order to grow and succeed in the industry, we believe semiconductor suppliers must have a broad, advanced intellectual property portfolio, product design expertise, comprehensive product offerings and specialized manufacturing process technologies and capabilities. Our competitive strengths enable us to offer our customers solutions to solve their key challenges. We believe our strengths include:
Advanced Analog and Mixed-Signal Power Semiconductor Technology. Our long operating history, large patent portfolio, extensive engineering and manufacturing process expertise and analog and mixed-signal intellectual property allow us to leverage our technology and develop new products across multiple end markets. Our product development efforts are supported by a team of approximately 110 engineers as of December 31, 2025. Our platform allows us to develop and introduce new products quickly and integrate numerous functions into a single product.
Established Relationships and Close Collaboration with Leading Global Electronics Companies. We have a long history of supplying and collaborating on product and technology development with leading innovators in the consumer electronics market. Our close customer relationships have been built based on many years of close collaborative product development, which provides us with deep system-level knowledge and key insights into our customers’ needs. As a result, we are able to continuously strengthen our technology in areas of strategic interest for our customers and focus on those products that our customers and end consumers demand the most.
Longstanding Presence in Asia and Proximity to Global Electronics Devices Supply Chain. Our presence in Asia facilitates close contact with our customers and fast response to their needs, and enhances our visibility into new product opportunities, markets and technology trends. Our design center and substantial manufacturing operations in Korea place us close to many of our largest customers and to the core of the global electronics devices supply chain. We have active applications, engineering, product design and customer support resources, as well as senior management and marketing resources, in geographic locations close to our customers. This allows us to strengthen our relationship with customers through better service, faster turnaround time and improved product design collaboration. We believe this also helps our customers to deliver products faster than their competitors and to solve problems more efficiently than would be possible with other suppliers.
Broad Portfolio of Product Offerings Targeting Large, High-Growth Markets. We continue to develop a wide variety of analog and mixed-signal power semiconductor solutions for multiple high-growth electronics device end markets. We believe our expanding product offerings allow us to provide additional products to new and existing customers. Our Power Solutions enable our customers to increase system stability and improve heat dissipation and energy use, resulting in improved system efficiency and system cost savings for our customers, as well as environmental benefits.
Highly Efficient Manufacturing Capabilities. Our manufacturing strategy is focused on optimizing our asset utilization across our power solution products, which enables us to maintain the price competitiveness of our products through our low-cost operating structure and improve our operational efficiency. We believe the location of our primary manufacturing and research and development facilities in Asia and the relatively low need for ongoing capital expenditures provide us with a number of cost advantages.
Our Strategy
Our objective is to grow our business, cash flow and profitability and to continue strengthening our position in the semiconductor industry as a leading provider of analog and mixed-signal power semiconductor products for high-volume markets. Our business strategy emphasizes the following key elements:
Increase Business with Existing Customers. We have a global customer base consisting of leading consumer electronics original equipment manufacturers (“OEMs”) that sell to multiple end markets. We intend to continue to strengthen our relationships with our customers by collaborating on critical design and product development in order to improve our design-win rates. We seek to increase our customer penetration by more closely aligning our product roadmap with those of our key customers and take advantage of our broad product portfolio, our deep knowledge of customer needs and existing relationships to sell more existing and new products.
Broaden Our Customer Base. We expect to continue to expand our global customer base, particularly in China, Hong Kong, and Taiwan, and other high-growth geographies, to penetrate new accounts. In addition, we intend to introduce new products and variations of existing products to address a broader customer base. In order to broaden our market penetration, we are complementing our direct customer relationships and sales with an improved base of distributors.
Drive Execution Excellence. We intend to improve our execution through a number of management initiatives, new processes for product development, customer service and personnel development. We expect these ongoing initiatives will contribute to improvement of our new product development and customer service as well as enhance our commitment to a culture of quick action and execution by our workforce. In addition, we have focused on improving our manufacturing efficiency during the past several years.
Return on Capital Investments and Cash Flow Generation. We manufacture our Power Analog Solutions products by utilizing our in-house manufacturing facility as well as an external foundry to address a broad portfolio of power products while we seek to maximize return on capital investments and our cash flow generation. We intend to keep our capital expenditures relatively low by maintaining our focus on specialty process technologies that do not require substantial investment in frequent upgrades to the latest manufacturing equipment. However, from time to time, we make special investments to enhance our manufacturing capabilities by investing in new equipment and expanding our manufacturing facility, which we expect will have a positive impact on our future new product development and revenue.
Our Technology
We continuously strengthen our advanced analog and mixed-signal power semiconductor technology platform by developing innovative technologies and integrated circuit building blocks that enhance the functionality of electronics devices through high efficiency, advanced safety and protection features, small form factors, and low power consumption. Our goal is to leverage our
experience and development initiatives across multiple end markets and utilize our understanding of system-level issues our customers face to introduce new technologies that enable our customers to develop more advanced, higher performance products.
Expertise in ultra-high voltage (UHV), high voltage and deep trench Bipolar-Complementary Metal-Oxide-Semiconductor and Double-Diffused Metal-Oxide-Semiconductor (BCDMOS) process technologies, low power analog and mixed-signal design capabilities and packaging know-how are key requirements in the power management market. We are currently leveraging our capabilities in these areas with products such as AC-DC/DC-DC converters, LED drivers, regulators, PMICs, power MOSFETs and IGBTs. We believe our system-level understanding of applications such as LCD televisions, smartphones, computing, and servers, automotive, and industrial applications will allow us to more quickly develop and customize Power Solutions for our customers in these markets.
Products by Power Analog Solutions and Power IC Business Lines
Our broad portfolio of products addresses multiple high-growth end markets. A key component of our product strategy is to supply multiple related product offerings to each of the end markets that we serve.
Power Analog Solutions products
We develop, manufacture and market Power Analog Solutions products for a wide range of end-market customers. The products include MOSFETs and IGBTs for a range of devices, including LCD, LED, and UHD televisions, digital signage, smartphones, mobile phones, wearable devices, desktop PCs, notebooks, tablet PCs, other consumer electronics, consumer appliances, automotive, and industrial applications such as power suppliers, e-bikes, photovoltaic inverters, LED lighting and motor drives.
MOSFETs. Our MOSFETs include low-voltage from 12V to 30V, medium-voltage from 40V to 200V, high-voltage planar MOSFETs, 200V through 650V, and super junction MOSFETs, 250V through 900V.
MOSFETs are used in applications to switch, shape or transfer electricity under varying power requirements. The key application segments are smartphones, mobile phones, wearable devices, LCD, LED, and UHD televisions, desktop PCs, notebooks, tablet PCs, servers, lighting and power supplies for consumer electronics automotive (electric vehicles) and industrial equipment. MOSFETs allow electronics manufacturers to achieve specific design goals of high efficiency and low standby power consumption. For example, computing solutions focus on delivering efficient controllers and MOSFETs for power management in VCORE, DDR and chipsets for audio, video and graphics processing systems.
IGBTs. Our IGBTs include 650V to 1200V field stop trench IGBTs. IGBTs are used in automotive and high-power industrial applications, such as UPSs, power supplies, motor drives, solar inverters, welding machines and consumer appliances.
Our Power Analog Solutions products enable customers to increase system stability and improve heat dissipation and energy use, resulting in cost savings for our customers and consumers, as well as environmental benefits. Our in-house process technology capabilities and eight-inch wafer production lines increase efficiency and contribute to the competitiveness of our products.
The following table summarizes the features of our products, including those in mass production and those undergoing customer qualification, which is the final stage of product development:
Product
Key Features
Applications
Low Voltage MOSFET
Voltage options of 12V-30V
Advanced Trench MOSFET Process
High cell density
Advanced packages to enable reduction of PCB mounting area
Smartphones, mobile phones, and wearable devices
Tablet PCs, Notebooks
Desktop PCs, Servers
LCD/LED TVs
Industrial applications
Automotive
Medium Voltage MOSFET
Voltage options of 40V-200V
Advanced Trench MOSFET Process
High cell density
High system efficiency
Advanced packages to enable reduction of PCB mounting area
e-Bikes and Motor controls
Battery Management Systems
Power tools and Servers
Energy Storage System
Other computing applications (Tablet PCs, Notebooks, Desktops)
Consumer applications (TV)
Industrial applications
Automotive
High Voltage MOSFET
Voltage options of 200V-650V
R2FET (rapid recovery) option to shorten reverse diode recovery time
Zener diode option for MOSFET protection for abnormal input
Advanced Planar MOSFET Process
Advanced packages to enable reduction of PCB mounting area
Adaptors for tablet PC/mobile phone/smartphone
Power supplies
Lighting (ballast, HID, LED)
Industrial applications
LCD/LEDTVs
Automotive
Super Junction MOSFET
Voltage options of 250V-900V
Low RDS(ON)
Epi stack process
Zener diode option for MOSFET protection for abnormal input
Advanced SJ MOSFET process
Advanced packages to enable reduction of PCB mounting area
Low power loss by high speed switching
LCD/LED/UHD TVs
Lightings applications (ballast, HID, LED)
Smartphones
Power supplies
Servers and Telecom powers
Industrial applications
EV charging station
On board charger
Home appliance
IGBTs
Voltage options of 650V/1200V
Field Stop Trench IGBT
Current options from 5A to 120A
Automotive
Solar inverters
Industrial applications
Consumer appliances
Home appliance
Power IC products
We develop and market Power IC products for a wide range of end-market customers. Our products include AC-DC/DC-DC converters, LED drivers, regulators, PMICs for a range of devices, including LCD, LED, and UHD televisions, digital signage, smartphones, wearable devices, notebooks, tablet PCs, other consumer electronics, and consumer appliances.
AC-DC/DC-DC Converters. We offer AC-DC/DC-DC converters targeting mobile applications and high-power applications like LCD, LED, and UHD televisions, notebooks, smartphones, mobile phones, set-top boxes and display modules. We expect our AC-DC/DC-DC converters will meet customers’ green power requirements by featuring wide input voltage ranges, high efficiency and small size.
LED Drivers. LED backlighting drivers serve the fast-growing LCD and LED panel backlighting market for LCD and LED televisions, LCD monitors, digital signage, notebooks, smartphones and tablet PCs. Our products are designed to provide high efficiency and a wide input voltage range, as well as pulse width modulation (PWM) dimming for accurate white LED dimming control.
Regulators. We also provide analog regulators for mobile, computing and consumer applications. Our products are designed to deliver high efficiency and low power consumption in mobile applications.
SSD PMICs. We also provide solid-state drive power management integrated circuits (SSD PMICs) for the computing segment. Our products are designed for high frequency switching, high efficiency and pulse frequency modulation (PFM) functions to reduce power consumption in low load converters.
Logic PMICs. We also provide logic PMICs for organic light-emitting diode (OLED) display panel. Our PMICs provide optimized power to source driver, gate driver and timing controller (T-CON) of OLED display panel through a multi-channel power block (boost converter, buck converter, Op-Amps and positive/negative LDOs).
Our Power IC solutions help customers enhance system stability and improve heat dissipation and energy use, resulting in cost savings for our customers and consumers, as well as environmental benefits. Power IC utilizes standard BCD process technologies which can be sourced from multiple foundries.
The following table summarizes the features of our products, including those in mass production and those undergoing customer qualification, which is the final stage of product development:
Product
Key Features
Applications
AC-DC/DC-DC Converter
Wide control range for high power application (>150W)
Advanced BCDMOS process
High Precision Voltage Reference
Very low startup current consumption
Fast load and line regulation
Accurate output voltage
OCP, SCP and thermal protections
LCD/LED/UHD TVs
Power supplies
Smartphones
Mobile phones
Notebooks
Set-top boxes
LED Backlighting Drivers
High efficiency, wide input voltage range
Advanced BCDMOS process
OCP, SCP, OVP and UVLO protections
Accurate LED current control and multi-channel matching
Programmable current limit, boost up frequency
Tablet PCs
Notebooks
Smartphones
LED/UHD TVs
LED monitors
Digital Controlled LED Driver
Multi-channel constant current control
12Bit gray scale with SPI
Digital signage
Regulators
Single and multi-regulators
Low Noise Output regulators
Wide range of input voltage and various output current
CMOS and BCDMOS processes
LDO (Low Drop Out — Linear Regulator)
Smartphones and Mobile phones
Notebooks
Computing applications
SSD PMIC
High current buck
PFM function
High frequency switching
High efficiency
High integration technology
Small QFN package
Computing applications
Product
Key Features
Applications
Logic PMIC
High current boost
Integrated pass transistor
LDO
3channel high current buck
Negative Charge Pump
2channel buffer Op-Amp.
Tiny Wafer Level CSP
Notebooks
Tablet PCs
Sales and Marketing
We focus our sales and marketing strategy on continuing to grow and leverage our existing relationships with leading consumer electronics OEMs, while expanding into industrial and automotive end markets. We believe our close collaboration with customers allows us to align our product and technology development with our customers’ existing and future needs. Because our customers often service multiple end markets, our product sales teams are organized by customers within the major geographies. We believe this facilitates the sale of products that address multiple end-market applications to each of our customers.
We sell our products through a direct sales force and a network of authorized agents and distributors. We have strategically located our sales and technical support offices near our customers. Our direct sales force consists primarily of representatives co-located with our design center in Korea, as well as our local sales and support offices and sales liaisons in Japan, Greater China, Taiwan and Europe. We have a network of agents and distributors in the U.S., Europe and the Asia Pacific region. For the years ended December 31, 2025 and 2024, we derived 34% and 23% of net sales from our Power Solutions business through our direct sales force, respectively, and 66% and 77% of net sales from our Power Solutions business through our network of authorized agents and distributors, respectively.
Customers
We sell our products to consumer, computing, communication, automotive and industrial electronics OEMs, original design manufacturers and electronics manufacturing services companies, as well as subsystem designers. For the years ended December 31, 2025 and 2024, our ten largest customers accounted for 74.3% and 73.4% of net sales from our Power Solutions business, respectively. For the year ended December 31, 2025, sales to SAMT Co., Ltd. (“SAMT”) represented 29.7% of net sales from our Power Solutions business. For the year ended December 31, 2024, sales to SAMT represented 25.4% of net sales from our Power Solutions business. For the year ended December 31, 2025, we recorded revenues of $5.0 million from customers in the U.S. and $173.9 million from all foreign countries, of which 50.6% was from Korea and 36.9% was from Greater China. For the year ended December 31, 2024, we recorded revenues of $2.1 million from customers in the U.S. and $183.7 million from all foreign countries, of which 44.9% was from Greater China and 43.5% was from Korea. All information pertaining to the geographic source of revenues is with respect to the geographic location to which our products are billed.
Intellectual Property
As of December 31, 2025, our portfolio of intellectual property assets included more than 950 registered patents and pending applications in total, including registered patents and pending applications related to display driver IC technology. Approximately 250 and 60 of our registered patents and pending applications, respectively, are novel in that they are not a foreign counterpart of an existing registered patent or pending application. Because we file patents in multiple jurisdictions, we have additional registered patents and pending applications that relate to identical technical claims in our base patent portfolio. Our registered patents expire at various times approximately over the next 19 years. While these patents are, in the aggregate, important to our competitive position, we do not believe that any single registered patent or pending application is material to us.
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