GCT aims to evolve its 4G/5G solutions and further expand its ecosystem around the world.
San Jose, California, August 13, 2024–(BUSINESS WIRE)–GCT Semiconductor Holdings Co., Ltd. (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). The MOU aims to accelerate the development of 4G/5G chipsets and modules and encourage their adoption by device manufacturers. GCT will work with Samsung to promote the integrated Samsung/GCT solution, strengthening the ecosystem of OEM/ODM device manufacturers to support 450MHz and 4.0GHz operations of wireless carriers worldwide, including Saudi Arabian oil group Aramco, mission-critical public safety and more.
As the need to connect everyone and everything grows, 5G will play a key role in enabling faster data speeds, greater reliability, and massive network capacity. GCT is committed to developing the 5G ecosystem for OEM and ODM device manufacturers, including CPE, mobile routers, ruggedized industrial phones, and IoT devices, with GCT’s 5G chips. Samsung will provide the test environment and Interoperability and Device Testing (IoDT) support for GCT’s chipset certification.
“GCT is pleased to continue our collaboration with our long-standing partner Samsung to expand the 4G/5G ecosystem in Saudi Arabia and beyond, and support the growing needs of 5G and 4G wireless operators to meet the growing demand for faster data speeds and increased capacity,” said John Schlaepfer, CEO of GCT.
About GCT Semiconductor Holding, Inc.
GCT is a leading fabless company that designs and supplies advanced 5G and 4G LTE semiconductor solutions. GCT’s market-proven solutions enable fast and reliable 4G LTE connectivity to a wide range of commercial devices, including CPE, mobile hotspots, routers, M2M applications and smartphones, for the world’s top wireless carriers. GCT’s system-on-chip solutions integrate radio frequency, baseband modem and digital signal processing functions to provide complete 4G and 5G platform solutions with small form factor, low power consumption, high performance, high reliability and cost-effectiveness. For more information, please visit: Home page.
Caution Regarding Forward-Looking Statements
This press release contains 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, but are not limited to, statements regarding the collaboration between GCT and Samsung and the availability of 4G/5G chipsets and modules. Words such as “believe,” “plan,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “project,” “may,” “should,” “will,” “would,” “be,” “continue,” “likely to result” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are predictions, forecasts and other statements about future events that are based on current expectations and assumptions and are subject to significant risks and uncertainties that may cause actual results to differ materially from expected results. Most of these factors are outside our control and are difficult to predict. Factors that could cause actual future events to differ materially from expected results include, but are not limited to: our ability to develop 5G products and generate revenue; our ability to enter into partnership and collaboration agreements and perform our obligations thereunder; our ability to manage growth and profitability and retain key employees; our financial and operating performance, including our financial forecasts and operating metrics; changes in our strategy, future operations, financial condition, estimated revenues and losses, forecasts, projected costs, outlook and plans; our ability to forecast future market demand and the future needs of our customers; the impact of component shortages, supplier capacity shortages, natural disasters or pandemics on our procurement operations and supply chain; our future capital requirements and sources and uses of cash; our ability to raise sufficient capital to fund our operations; our ability to execute on our business plans, forecasts and other expectations, including the growth of the 5G market; the risk that we will not be able to repay our indebtedness, the risk of an economic downturn affecting our business operations and financial performance, the risk that we will not be able to develop and design products that are acceptable to our customers, actual or potential conflicts of interest between our management and public stockholders, and other risks and uncertainties described from time to time in our filings with the SEC, including our registration statement on Form S-1, our quarterly reports on Form 10-Q and the disclosures in the “Risk Factors” section thereof. 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 place undue reliance on forward-looking statements, and the Company undertakes 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240813111771/ja/
contact address
Investor Relations Website: Investor Relations
Investor Relations Contact: Gateway Group, Matt Glover & Ralph Esper, GCT@gateway-grp.com
Media Contact: media
