Radio frequency chipmaker Weixun United Semiconductor sells two Chinese factories to Lixun Precision

Thank CTOnews.com netizens Rimi Ishihara for the delivery of the clue to happiness! CTOnews.com December 19, the United Semiconductor Co., Ltd. (Qorvo), an American manufacturer of radio frequency chips, announced that it had established a strategic partnership with Lixun Precision and reached a final agreement to sell the latter its assembly and testing plants in Beijing and Dezhou, Shandong Province, with the transaction expected to be completed in the first half of next year.

According to CTOnews.com, after the completion of the transaction, Lixun Precision will take over the operation and assets of the plant, including property, plant, equipment and existing employees. Weixun United Semiconductor will retain its sales, engineering and customer support staff in China and continue to provide services to customers. Lixun Precision will assemble and test products for Weixun United Semiconductor in accordance with the newly signed long-term supply agreement.

"this transaction will further reduce our capital intensity, benefit our long-term gross margin target and ensure the continuity of our business in China," said Grant Brown, chief financial officer of Weixun United Semiconductor.

Weixun United Semiconductor, whose customers include handset makers such as Apple, said its plants in Beijing and Texas mainly assemble and test the company's advanced integrated products for cellular communications.