Month: July 2013

Investors

Magnachip Reports Second Quarter 2013 Financial Results

– Revenue Grew 4.9% Sequentially, 6.2% Year-Over-Year
– Power Solutions Revenue Increased 19.1% Sequentially, 6.7% Year-Over-Year
– Gross Margin Improved 100 BPS Sequentially, 200 BPS Year-Over-Year
– Achieved GAAP EPS of $0.12 and Adjusted EPS of $0.71 Per Diluted Share
– Board Approves New $100 Million Stock Repurchase Program

SEOUL, South Korea and CUPERTINO, Calif., July 30, 2013 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced financial results for the second quarter ended June 30, 2013.

Revenue for the second quarter of 2013 was $215.3 million, a 4.9% increase compared to $205.3 million for the first quarter of 2013 and a 6.2% increase compared to $202.6 million for the second quarter of 2012.

Gross margin was $71.0 million or 33.0%, as a percent of revenue, for the second quarter of 2013. This compares to gross margin of $65.7 million or 32.0% for the first quarter of 2013 and $62.9 million or 31.0% for the second quarter of 2012.

Net income, on a GAAP basis, for the second quarter of 2013 totaled $4.4 million or $0.12 per diluted share. This compares to a net loss of $7.4 million or $0.21 per diluted share for the first quarter of 2013 and a net income of $4.3 million or $0.12 per diluted share for the second quarter of 2012.

“We delivered solid results in the second quarter. Revenue of $215.3 million dollars was up 4.9% sequentially and up 6.2% year-over-year. Gross margin of 33.0% was up 100 basis points compared to last quarter and up 200 basis points compared to Q2 of last year,” said Sang Park, MagnaChip Chairman and CEO. “We’re excited that our effort to focus on fast growing markets with our expanding list of innovative partners has enabled us to deliver ten consecutive quarters of meeting or exceeding our financial guidance, in spite of the recent soft demand from high-end smartphone makers.”

Adjusted net income, a non-GAAP measurement, for the second quarter of 2013 totaled $26.2 million or $0.71 per diluted share compared to $19.7 million or $0.53 per diluted share for the first quarter of 2013 and $17.9 million or $0.48 per diluted share for the second quarter of 2012.

Management believes that non-GAAP financial measures, when viewed in conjunction with GAAP results, can provide a more meaningful understanding of the factors and trends affecting MagnaChip’s business and operations. However, such non-GAAP financial measures have limitations and should not be considered as a substitute for net income or as a better indicator of our operating performance than measures that are presented in accordance with GAAP. A reconciliation of GAAP results to non-GAAP results is included following the financial statements.

Combined cash balances (cash and cash equivalents plus restricted cash) totaled $192.6 million at the end of the second quarter of 2013, an increase of $9.6 million from the end of the prior quarter. Cash provided from operations totaled approximately $11.0 million for the second quarter of 2013.

Second Quarter and Recent Company Highlights
Completed Private Offering of $225 Million of Senior Notes.
Lowered Cash Interest Expense by 30.3% or $6.5 Million Annually.
Corporate Credit and Debt Rating Upgraded by Moody’s Investors Service.
Tenth Consecutive Quarter of Meeting or Exceeding Financial Guidance.

Business Outlook
For the third quarter of 2013, MagnaChip expects:
Revenue will be in the range of $215 million to $225 million.
Gross margin will be 33.0% to 34.0% as a percent of revenue.

Conference Call
MagnaChip will hold a conference call at 5 p.m. EDT today to discuss the second quarter 2013 financial results. The conference call will be webcast live and is also available by dialing 1-866-776-2061 in the U.S. or 1-706-679-0298 for all other locations. The conference ID number is 18170301 and participants are encouraged to initiate their calls at least 10 minutes in advance of the 5 p.m. EDT start time to ensure a timely connection. The webcast and earnings release will be accessible at www.magnachip.com.
A replay of the conference call will be available the same day and will run for 72 hours. The replay access numbers are 1-855-859-2056 or 1-404-537-3406. The access code is 18170301.

About MagnaChip Semiconductor Corporation
Headquartered in South Korea, MagnaChip is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. MagnaChip believes it has one of the broadest and deepest ranges of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com. Information on or accessible through, MagnaChip’s website is not a part of, and is not incorporated into, this release.

Safe Harbor for Forward-Looking Statements
Information in this release regarding MagnaChip’s forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include statements about our ability to capitalize on improving market dynamics and future operating and financial performance including third quarter 2013 revenue and gross margin. All forward-looking statements included in this release are based upon information available to MagnaChip Semiconductor as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new products and technologies, ability to ramp new products into volume production, industry wide shifts in supply and demand for semiconductor products, industry and/or company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets and the impact of foreign exchange rates, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, compliance with U.S. and international trade and export laws and regulations by us and our distributors, and other risks detailed from time to time in MagnaChip’s filings with the SEC, including our Form 10-K filed on February 22, 2013 and subsequent registration statements, amendments or other reports that we may file from time to time with the SEC and/or make available on our website. MagnaChip assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1-408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

Investors

Magnachip Announces New Stock Repurchase Program

SEOUL, South Korea and CUPERTINO, Calif., July 30, 2013 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that its Board of Directors approved a new stock repurchase program that authorizes MagnaChip to repurchase, from time to time, up to $100 million of its common stock in the period from August 5, 2013, through December 15, 2014. Such purchases may be made in the open market, through block trades, in privately negotiated transactions or otherwise. The new repurchase program replaces MagnaChip’s existing repurchase program under which MagnaChip repurchased approximately 4.3 million common shares over six fiscal quarters.

The new stock repurchase program will be funded with MagnaChip’s cash on hand and does not obligate MagnaChip to repurchase a minimum number of shares. The program may be commenced, suspended, canceled or resumed at any time without prior notice. The timing and extent of any repurchases will depend upon prevailing market conditions, the trading price of MagnaChip’s common stock and other factors, and subject to contractual restrictions and restrictions under applicable law and regulations.

Sang Park, MagnaChip Chairman and CEO, commented, “The adoption of the new stock repurchase program we are announcing today illustrates our confidence in the long-term growth prospects of our company and the strength and flexibility of our business model. The Board of Directors believes that our stock represents an attractive investment for MagnaChip and its investors, and expresses our ongoing commitment to increasing shareholder value.”

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1-408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

Power Solutions

Magnachip Introduces the MagnachipM1120 Digital Hall Sensor for Magnetic Sensor Applications

New Digital Hall Sensor Replaces Conventional Analog Sensors with Flexible Programmable Options for Wide-Ranging Design Flexibility

 

SEOUL, South Korea and CUPERTINO, Calif., July 25, 2013 /PRNewswire/ —

Featured Highlights:

New digital Hall sensor features 10-bit ADC (analog-digital converter) and programmable functionality for design flexibility
Applicable for consumer, automotive, industrial and medical products
Broad range of software, hardware and OEM partner support

MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korean semiconductor company with a broad portfolio of analog and mixed-signal products and technologies, today announced a new digital Hall sensor product line designed for emerging consumer, industrial and medical magnetic sensor applications. This line replaces conventional analog Hall switches. The MXM1120 series uses MagnaChip’s 0.18 micron low noise mixed-signal technology and proprietary Hall technology. The development kit is available for multiple operating systems including Android OS.

More computing products, applications, and systems are moving towards digital based solutions challenging the limits of conventional analog-based functions. This mega-trend demands digitally-controllable parts, especially smart sensors for all digital interface and seamless signal processing without conversion loss.

The MXM1120 series deliver I2C digital interface and fully-digitized functionality with a 10-bit ADC and an embedded logic controller. Compatible with wake-up schemes, the MXM1120 series features an additional interrupt output allowing programmable Brp and Bop parameters. These universal features provide the benefit of easy porting to any particular system allowing engineers to quickly implement value-added functions through programming. For example, flip-covers of handheld devices require a magnetic sensor that can solve both the high deviation in quality as a result of production anomalies of magnets as well as malfunctions caused by unintended cover opening. MagnaChip’s self-calibration programming can ignore the magnet flux deviations, while 10-bit magnetic field measurement can reject unintended malfunctions with signal processing techniques.

“Our new MXM1120 Hall sensor provides flexible programming capabilities and other competitive features that will allow us to expand into the new and growing business opportunity of digitized smart applications,” said YJ Kim, Executive Vice President and General Manager of MagnaChip’s Display Solutions Division. “MagnaChip will continue to provide the consumer with innovative new products such as application-specific Hall sensors that will service the demand for leading-edge applications and product features.

Pricing and Availability
MXM1120 Hall sensor is currently being sampled and will go to production in Q3 2013. Evaluation kit is available through MagnaChip sales channels.

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1-408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-3-6903-3195
chankeun.park@magnachip.com

Events

Magnachip Introduces New Low Power e-Compass Sensor Series for Improved Mobile Device Functionality

SEOUL, South Korea and CUPERTINO, Calif., July 25, 2013 /PRNewswire/ —

Featured Highlights:
Enhanced navigation and augmented reality applications for smartphones and tablets
New 0.18 micron e-Compass provides high performance and industry-standard heading accuracy
Broad range of software, hardware and OEM partner support

MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korean semiconductor company with a broad portfolio of analog and mixed-signal products and technologies, today announced a new e-Compass sensor product, the MXG1300, based on MagnaChip’s low noise 0.18 micron technology. The MXG1300 targets the growing market for smartphones, tablets and other handheld devices.

The e-Compass is an important sensor for smartphones and tablets as it maintains alignment of the display with the user’s orientation. As smartphones and tablets increasingly utilize navigation and augmented reality features, the e-Compass market is expected to grow in measure with the growth of smartphone and tablet production. A recent report from the Gartner Group shows smartphone production having grown by a CAGR of 61.6% from 2009 to 2012. By introducing the MXG1300, MagnaChip enters this emerging and growing market equipped with its own high-volume 8-inch wafer manufacturing capability combined with a Korea-based “end-to-end” ecosystem.

The MXG1300 e-Compass offers an attractive design solution featuring an Android OS driver, compass algorithms, and magnetic field scanning support. Field scanning support helps determine an optimum location for the MXG1300 chip placement within a cellphone, since the e-compass operation is subject to magnetic interference from a vibration motor and speakers. MXG1300 provides an industry-competitive wide dynamic range of magnetic field strength and cost-effectiveness. Additional features of the MXG1300 are its low noise mixed signal and analog process technology as well as a 16-bit sigma-delta ADC (analog-digital converter).

In addition, the MXG1300 has a low-power mode which reduces operating current by 40% in situations where it is possible to operate the device at a slower, but acceptable, heading speed. This mode creates wider power management flexibility by extending the battery life of mobile devices.

“We believe the timing is right to launch the MXG1300 e-Compass sensor series as the market is demanding a more cost effective solution,” said YJ Kim, Executive Vice President and General Manager of MagnaChip’s Display Solutions Division. “With the advantage of our own proprietary 0.18 micron process technology and available capacity at our cost competitive fab, MagnaChip will continue to provide the consumer with constantly evolving e-Compass solutions, a key element of MagnaChip’s expanding technology and product roadmap.”

Pricing and Availability
MXG1300 e-Compass is currently being sampled and will go to production in Q3 2013. Evaluation kit is available through MagnaChip sales channels.

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1-408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-3-6903-3195
chankeun.park@magnachip.com

Events

Magnachip Unveils New Magnachipsensor™ Product Family

New intelligent sensors will make Smartphones, Tablets, Automobile Dashboards, Medical Equipment and other products more user-friendly and responsive

 

SEOUL, South Korea and CUPERTINO, Calif., July 25, 2013 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korean semiconductor company with a broad portfolio of analog and mixed-signal products and technologies, today announced a full range of “MXsensor™” intelligent sensor product families featuring 0.18 micron mixed signal & analog technology with low power consumption. The MXsensor™ families target the growing market for applications ranging from smartphone, tablet, and navigation to medical devices. The MXsensor™ families include e-Compass and digital Hall sensors. MagnaChip’s intelligent sensors provide cost-effective features such as small form-factor and multi-function integration as a result of its use of 0.18 micron mixed signal & analog technology and advanced design capabilities, as compared to currently available products.
Sensors are used for many applications and their use is growing rapidly. Furthermore, today’s increasingly sophisticated devices require an emerging class of intelligent sensors in mass volume. For instance, in handheld devices magnetic sensors are essential to implement compass-functionality and to detect the timing of opening and closing of a flip cover. MagnaChip’s intelligent sensor families address these magnetic sensor requirements with a new style of design made possible by integrating multiple functions and lowering power consumption utilizing MagnaChip’s own proprietary 0.18 micron mixed-signal technology.

MagnaChip is charging ahead with its new 0.18 micron design in its target market segments, as the sensor industry as a whole needs to move to a more cost-effective smart sensor solution in order to meet lower cost and product differentiation objectives in areas such as smartphones. Several factors make the smartphone market particularly compelling for this new intelligent design.

A recent report from the Gartner Group shows smartphone production growing by a CAGR of 61.6% from 2009 to 2012 with unit production continuing to increase due to emerging manufacturers and the growth of 4G / LTE networking. To make smartphones more attractive to consumers, design teams are turning to sensors as one way to differentiate their models by incorporating more user friendly interfaces and an overall better user experience.

According to another recent report issued by Gartner Group, the non-optical sensor market will be growing by a CAGR of 12.1% from 2012 to 2017, which is partially attributed to the increasing number of sensors inside a mobile phone. For models manufactured in 2013, there are typically 12~13 sensors in a smartphone.

The MXsensor™ families include:

MXM11XX Digital Hall Sensor Family
This fully-digitalized Hall sensor features 10-bit ADC (analog-digital converter) and programmable design flexibility. It presents numerous new functionalities over alternatives of conventional Hall switches. The self-calibration mode allows high-precision applications with an inexpensive magnet, while the I2C interface enables device makers to quickly provide value-added features through creative programming. Please see today’s accompanying press release for more information about this product.

MXG1300 e-Compass Sensor Family
This new e-Compass features both industry-comparable heading accuracy and power performance with MagnaChip’s proprietary magnetic Hall sensor technology. The heading accuracy can enhance the user experience even under harsh magnetic-flux environments, while the better power performance extends battery life time for power-hungry mobile devices. Please see today’s accompanying press release for more information about this product.
“MagnaChip’s new MXsensor™ solutions are already creating great interest, particularly in the mobile device manufacturing sector,” said YJ Kim, Executive Vice President and General Manager of MagnaChip’s Display Solutions Division. “We look forward to meeting the needs of the smartphone and tablet communities and other industry sectors with the advanced feature set of the MXsensor™ series through our rapidly growing list of advanced product offerings.”

Availability
MXM11XX and MXG1300 families are currently being sampled and will go into production in Q3 2013. Evaluation kits are available through MagnaChip sales channels.

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1-408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-3-6903-3195
chankeun.park@magnachip.com

Events

Magnachip Expands into Emerging RF Front-End Module Foundry Market with SOI RF CMOS Technology

SEOUL, South Korea and CUPERTINO, Calif., July 22, 2013 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, and the National Nano Fab Center (“NNFC”) have entered into an SOI RF CMOS technology transfer agreement which combines MagnaChip’s specialty manufacturing expertise with NNFC’s robust RF technology. The two companies have targeted expansion into the emerging RF front-end module (“FEM”) foundry market.

The technology agreement transfers 0.18um SOI RF CMOS process technology to MagnaChip. This process technology is a core component of cellular phone FEMs. FEMs can replace existing compound semiconductor and silicon solutions with approximately 30% reduced manufacturing process steps. This reduces manufacturing cost, accelerates time to market, while addressing the specific needs of 2/3/4G and LTE cellular systems.

The SOI RF CMOS technology is optimized for use in RF switches and antenna tuning applications, which have rapidly expanded as a result of the recent development trends in multiband and multimode cellular phone designs. In addition to offering excellent switch performance, this technology enables a high level of integration including control, logic, monitoring and power. The resulting FEMs are lighter, thinner, smaller compared to FEMs using compound semiconductor and can be integrated with digital tunable capacitors, which are key elements of RF tuning circuits. As we look further into the future, FEMs may eventually be integrated with power amplifiers, leading to a single-chip CMOS FEM solutions.

Jae Young Lee, President of NNFC commented, “This technology transfer is an example of the successful technology development work done at NNFC which can be applied to commercial production. NNFC, which is a government-sponsored R&D center, uniquely defined this technology platform. Going forward, NNFC will continue to lend its support to MagnaChip to ensure the continued success of the SOI RF CMOS foundry process technology.”

“The technology transfer of NNFC’s 0.18um SOI RF CMOS is a significant addition to MagnaChip’s growing list of process offerings that are available to its specialty foundry customers,” said Namkyu Park, Senior Vice President of Marketing for MagnaChip’s Semiconductor Manufacturing Services Division. “Our goal is to continue to offer the latest in differentiated technologies to meet the needs of our customers and partners in the fast-changing semiconductor market.”

About National Nano Fab Center
NNFC is the public institute invested by central, local government and KAIST (Korea Advanced Institute of Science and Technology) in Korea. The main mission is to provide and offer fabrication services to academia, research institutes and industry. NNFC has a nano-fusion infrastructure based on CMOS, MEMS, BIO-MEMS, NANO Materials and Analysis division. For more information, please visit www.nnfc.re.kr.

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest ranges of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1-408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

Investors

Magnachip Announces Pricing of $225 Million of Senior Notes

SEOUL, South Korea and CUPERTINO, Calif., July 15, 2013 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, announced today that it has priced a private offering of $225 million of its 6.625% Senior Notes due 2021 (the “2021 Notes”) at an issue price of 99.5% of principal amount. The offering is expected to close on July 18, 2013.

The net proceeds of this offering will be used to redeem all of its subsidiaries’ outstanding $203.7 million in aggregate principal amount of 10.500% Senior Notes due 2018 (the “2018 Notes”), including applicable premium and accrued interest, and to pay transaction fees and expenses related to the offering.

The 2021 Notes will not be registered under the Securities Act of 1933 (the “Securities Act”) or the securities laws of any other jurisdiction. As a result, they may not be offered or sold in the United States or to any U.S. persons absent registration or an applicable exemption therefrom. Accordingly, the 2021 Notes will be offered and sold only to “qualified institutional buyers” under Rule 144A of the Securities Act or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. A confidential offering memorandum will be made available to such eligible holders. The offering will be conducted in accordance with the terms and subject to the conditions set forth in the offering memorandum.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the 2021 Notes, nor shall there be any sales of 2021 Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Safe Harbor for Forward-Looking Statements

Information in this release regarding the closing of the 2021 Notes offering and the intended use of proceeds therefrom are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including risks and uncertainties related to market conditions. MagnaChip cannot assure you that the offering will be completed on the anticipated terms, or at all. All forward-looking statements included in this release are based upon information available to MagnaChip as of the date of this release, which may change, and MagnaChip assumes no obligation to update any such forward-looking statements. You should carefully read and consider the information set forth under “Risk Factors” and other risks detailed from time to time in MagnaChip’s filings with the SEC, including MagnaChip’s Form 10-Q filed on May 3, 2013 and subsequent registration statements, amendments or other reports that MagnaChip may file from time to time with the SEC and/or make available on its website. MagnaChip assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1 408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

Investors

Magnachip Announces Proposed Private Offering of $225 Million of Senior Notes

SEOUL, South Korea and CUPERTINO, Calif., July 15, 2013 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, announced today that it is proposing to offer in a private placement $225 million in aggregate principal amount of senior notes due 2021 (the “Notes”). The net proceeds of this offering are intended to be used to redeem all of its subsidiaries’ outstanding 10.500% Senior Notes due 2018, including applicable premium and accrued interest, and to pay related fees and expenses of the offering.

The Notes to be offered will not be registered under the Securities Act of 1933 (the “Securities Act”) or the securities laws of any other jurisdiction. As a result, they may not be offered or sold in the United States or to any U.S. persons absent registration or an applicable exemption therefrom. Accordingly, the Notes will be offered only to “qualified institutional buyers” under Rule 144A of the Securities Act or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. A confidential offering memorandum will be made available to such eligible holders. The offering will be conducted in accordance with the terms and subject to the conditions set forth in the offering memorandum.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sales of Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Safe Harbor for Forward-Looking Statements

Information in this release regarding the intent of the MagnaChip to offer and sell Notes and the intended use of proceeds therefrom are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including risks and uncertainties related to market conditions. MagnaChip cannot assure you that the offering will be completed on the anticipated terms, or at all. All forward-looking statements included in this release are based upon information available to MagnaChip as of the date of this release, which may change, and MagnaChip assumes no obligation to update any such forward-looking statements. You should carefully read and consider the information set forth under “Risk Factors” and other risks detailed from time to time in MagnaChip’s filings with the SEC, including MagnaChip’s Form 10-Q filed on May 3, 2013 and subsequent registration statements, amendments or other reports that MagnaChip may file from time to time with the SEC and/or make available on its website. MagnaChip assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1 408-625-1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com

Investors

Magnachip Schedules Second Quarter 2013 Earnings Release and Conference Call

SEOUL, South Korea and CUPERTINO, Calif., July 11, 2013 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX) will hold a conference call Tuesday, July 30, 2013 at 5 p.m. EDT to discuss the Company’s second quarter 2013 financial results. Participating in the call will be Sang Park, MagnaChip Chairman and CEO and Margaret Sakai, Executive Vice President and CFO. The earnings press release will be issued after the market closes that day.

The conference call will be webcast live and is also available by dialing 1-866-776-2061 in the U.S. or 1-706-679-0298 for all other locations. The conference ID number is 18170301 and participants are encouraged to initiate their calls at least 10 minutes in advance of the 5 p.m. EDT start time to ensure a timely connection. The webcast and earnings release will be accessible at www.magnachip.com.

A replay of the conference call will be available the same day and will run for 72 hours. The replay access numbers are 1-855-859-2056 or 1-404-537-3406. The access code is 18170301.

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

CONTACTS:

In the United States:
Robert Pursel
Director of Investor Relations
Tel. +1 408.625.1262
robert.pursel@magnachip.com

In Korea:
Chankeun Park
Senior Manager, Public Relations
Tel. +82.2.6903.3195
chankeun.park@magnachip.com