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Cypress Semiconductor announced recently the company has entered into a joint venture with SK hynix system ic, a foundry spin-off of SK Hynix.

Under an agreement for an initial five-year period, the JV will manufacture and sell Cypress' existing single-level cell (SLC) NAND products and will continue to invest in next-generation NAND products, according to Cypress.

Cypress said it will transfer its full portfolio of SLC NAND flash memories to the joint venture according to the agreement. Cypress' 1Gb to 16Gb devices provide reliable data storage for communications, consumer, automotive and industrial applications, and are available in compact packages to fit in small form factors. The products also meet stringent quality standards, including AEC-Q100 automotive-grade quality, according to the company.

The JV will be 60% owned by SK hynix system ic and 40% owned by Cypress, and will be based in Hong Kong. The implementation and launch of the JV is expected to take place in the first quarter of 2019, subject to applicable regulatory approvals having been obtained (including the expiration or termination of the applicable waiting periods) and other customary closing conditions.

"A key aspect of our Cypress 3.0 strategy is to focus on our core technology targeting growth markets. We will continue to sharpen our focus on differentiated Connect, Compute and Store solutions that target the automotive, industrial and IoT markets, which have longer design cycles," said company president and CEO Hassane El-Khoury. "Our NAND customers will now be supported by the joint venture, and the joint venture will continue to support their future needs while allowing Cypress to participate in the success of the joint venture."

By: DocMemory
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