Financial Releases
RFMD Named ''Best Supplier'' by Leading Handset Manufacturer
"This award recognizes the value of RFMD's innovative technologies and its commitment to supporting Lenovo Mobile, the world's fastest-growing handset brand," said Zhijun Liu, vice president Lenovo and general manager Lenovo Mobile. "This award is a testament to RFMD's customer-centric focus and its ability to supply best-in-class technologies on time and in very high volumes. We look forward to continued growth in our relationship with RFMD."
According to the latest SINO report, Lenovo Mobile, the handset division of China's Lenovo Group Ltd, is the biggest local mobile handset brand sold in China and the fourth largest overall mobile handset brand in China. RFMD is the major supplier of power amplifiers (PAs) for Lenovo handsets. In addition to its leading provider status in PAs, RFMD is currently pursuing additional opportunities to supply Lenovo Mobile with complementary RF technologies, including its POLARIS TOTAL RADIO solutions, Bluetooth® and GPS.
"RFMD enjoys an exceptional relationship with Lenovo Mobile, which is quickly emerging as a major force in China's mobile handset market," said Bob Bruggeworth, president and CEO of RF Micro Devices. "RFMD is committed to expanding our operations in China in order to support valued, high-growth customers such as Lenovo Mobile."
About RF Micro Devices
RF Micro Devices, Inc., an ISO 9001- and ISO 14001-certified manufacturer, designs, develops, manufactures and markets proprietary radio frequency integrated circuits (RFICs) for wireless communications products and applications. The Company is a leading supplier of power amplifiers, one of the most critical radio frequency (RF) components in cellular phones. The Company is also the leading manufacturer of GaAs HBT, which offers distinct advantages over other technologies for the manufacture of current- and next-generation power amplifiers. The Company's products are included primarily in cellular phones, base stations, wireless local area networks (WLANs), cable television modems and global positioning systems (GPS). The Company derives revenue from the sale of standard and custom-designed products. The Company offers a broad array of products including amplifiers, mixers, modulators/demodulators and single-chip transmitters, Bluetooth® products and receivers and transceivers that represent a substantial majority of the RFICs required in wireless subscriber equipment. The Company's goal is to be the premier supplier of low-cost, high-performance integrated circuits and solutions for applications that enable wireless connectivity. RF Micro Devices, Inc. is traded on the Nasdaq National Market under the symbol RFMD. For more information about RFMD, please visit www.rfmd.com.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under the federal securities laws. RF Micro Devices' business is subject to numerous risks and uncertainties, including variability in quarterly operating results, the rate of growth and development of wireless markets, risks associated with the operation of our wafer fabrication facilities, molecular beam epitaxy facility, our assembly facility and our test, tape and reel facilities, our ability to attract and retain skilled personnel and develop leaders, variability in production yields, our ability to reduce costs and improve gross margins by implementing innovative technologies, our ability to bring new products to market, dependence on consignment sales through customer inventory hubs, our ability to adjust production capacity in a timely fashion in response to changes in demand for our products, dependence on a limited number of customers, dependence on third parties and the variability of future stock-based compensation charges or credits during the remainder of fiscal 2006 as a result of our stock option exchange program as well as the adoption of SFAS 123® in fiscal 2007. These and other risks and uncertainties, which are described in more detail in RF Micro Devices' most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.
RF MICRO DEVICES®, RFMD® and POLARIS TOTAL RADIO are trademarks of RFMD, LLC. BLUETOOTH is a trademark owned by Bluetooth SIG, Inc., U.S.A. and licensed for use by RF Micro Devices, Inc. All other trade names, trademarks and registered trademarks are the property of their respective owners.
CONTACT: RF Micro Devices, Inc., Greensboro
Jerry Neal or Doug DeLieto, 336-664-1233
SOURCE: RF Micro Devices, Inc.