GCT Semiconductor Celebrates Major Milestone with Delivery of 5G Chipsets and Modules to Customers
SAN JOSE, Calif.--(BUSINESS WIRE)-- GCT Semiconductor Holding Inc. ('GCT') (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, today announced the initial delivery of its new 5G chipsets to its customers, including Airspan Networks and Orbic North America, LLC, among others, for their immediate evaluation. GCT will continue to provide samples in the next several weeks to complete the initial demand from its lead customers. These samples are being provided in both chip and module forms, depending on customer needs.
'We are thrilled to achieve this major milestone and now have our 5G chips in the hands of our customers,' said John Schlaefer, CEO of GCT.
'We are thrilled to achieve this major milestone and now have our 5G chips in the hands of our customers,' said John Schlaefer, CEO of GCT. 'Our chips are currently being evaluated and we're eager to receive positive feedback from our customers. Our first priority is to focus on mid-tier applications and immediate demand for the growing 5G market. This will include the development of a Verizon-certified module. We're also excited to expand sampling to all our customers in the near future.'
After the evaluation process is complete, GCT will work with customers to optimize their device performance, and to determine production demands. GCT is fully prepared to meet these demands, supported by a robust supply chain built on years of proven experience delivering high-performance solutions efficiently and reliably.
About GCT Semiconductor Holding, Inc.
GCT is a leading fabless designer and supplier of advanced 5G and 4G LTE semiconductor solutions. GCT's market-proven solutions have enabled fast and reliable 4G LTE connectivity to numerous commercial devices such as CPEs, mobile hotspots, routers, M2M applications and smartphones, etc., for the world's top wireless carriers. GCT's system-on-chip solutions integrate radio frequency, baseband modem and digital signal processing functions, therefore offering complete 4G and 5G platform solutions with small form factors, low power consumption, high performance, high reliability, and cost-effectiveness. For more information, visit www.gctsemi.com.
Cautionary Statement Regarding Forward-Looking Statements –
This press release contains certain 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, without limitation, statements regarding delivery of 5G chipset and completion of customer evaluation processes. Words such as 'believe,' 'project,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'strategy,' 'future,' 'opportunity,' 'plan,' 'may,' 'should,' 'will,' 'would,' 'will be,' 'will continue,' 'will likely result,' and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company's control and are difficult to predict. Factors that may cause actual future events to differ materially from the expected results, include, but are not limited to: the ability of the Company to develop its 5G products and generate revenue; the ability of the Company to enter into and meet the obligations under partnership and collaboration agreements; the ability of the Company to grow and manage growth profitability and retain its key employees; the Company's financial and business performance, including the Company's financial projections and business metrics; changes in the Company's strategy, future operations, financial position, estimated revenues and losses, forecasts, projected costs, prospects and plans; the Company's inability to anticipate the future market demands and future needs of its customers; the impact of component shortages, suppliers' lack of production capacity, natural disasters or pandemics on the Company's sourcing operations and supply chain; the Company's future capital requirements and sources and uses of cash; the ability of the Company to raise sufficient capital to fund its operations; the ability to implement business plans, forecasts, and other expectations, including the growth of the 5G market; the risk that the Company may not be able to repay its debt; the risk of economic downturns that affects the Company's business operation and financial performance; the risk that the Company may not be able to develop and design its products acceptable to its customers; actual or potential conflicts of interest of the Company's management with its public stockholders; and other risks and uncertainties indicated from time to time in the Company's filings with SEC, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and those disclosures under the "Risk Factors" section therein. 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 put undue reliance on forward-looking statements, and the Company assumes 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.
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