Magnachip opens up subsidiary in China
Magnachip Semiconductor Corp. (Seoul, South Korea) has opened a subsidiary company in Hefei to help it drive display driver IC and power IC sales in China. Magnachip Technology Co. Ltd. (MTC) will also have branch offices in Beijing, Chengdu and Shenzhen.
Magnachip provides power ICs, OLED display driver ICs and power management ICs for communication, Internet of Things, consumer, computing, industrial, and automotive applications.
“Our decision to establish an operating subsidiary in mainland China marks another significant milestone in our global growth journey, alongside our Korean headquarters and our presence in Europe and Asia including Japan and Taiwan,” said YJ Kim, CEO of Magnachip, in a statement. “By establishing a local presence, we are better positioned to understand and fulfill the needs of the Chinese consumer market, while reaffirming our commitment to delivering long-term value for our shareholders.”
Related links and articles:
News articles:
Magnachip plans to split display, power businesses
China okays SK Hynix’s acquisition of Key Foundry – report
Magnachip in play with last-minute rival bid
If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :
