Month: March 2016

Display Solutions

Magnachip Surpasses 6 Million Display Driver ICs Shipped for OLED TV

SEOUL, South Korea and SAN JOSE, Calif., March 28, 2016 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that its cumulative shipment of display driver ICs for organic light-emitting diode (OLED) TVs has surpassed the 6 million cumulative unit mark since initial shipments began in 2013.

The OLED Display driver IC is a critical semiconductor component transmitting both digital and analog signals to an OLED panel which in turn creates and displays an image. OLED displays require a significantly higher level of device and panel development technology as well as enhanced manufacturing processes beyond what is required for generic flat panel LCD displays. MagnaChip has been supplying its display driver ICs to top-tier OLED TV makers since 2013 and will continue to enhance its OLED product performance and portfolio of products to address the needs of customers in this expanding market.

Market research firm IHS Inc., has projected that the global OLED TV market will record double-digit unit growth into 2020 and beyond while demand for flat panel LCD TVs will remain flat.

OLED TV market forecast (million units)

* Source: IHS Inc. OLED TV shipment forecast

“MagnaChip has been a leader in the development and manufacture of OLED display drivers from the beginning and is well positioned to participate in the growth of this expanding market,” said YJ Kim, MagnaChip’s CEO. “We will continue to strengthen our technology and deliver differentiated and high-quality products in order to meet the growing needs of our global customers.”

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.

CONTACTS

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

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

Investors

Magnachip Amends and Extends Shareholder Rights Plan

SEOUL, South Korea and CUPERTINO, Calif., March 2, 2016 /PRNewswire/ — MagnaChip Semiconductor Corporation (“MagnaChip” or the “Company”) (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, announced today that its Board of Directors has unanimously approved an amendment and extension of its Rights Agreement, dated March 5, 2015.

The Rights Agreement was due to expire on March 5, 2016. Under the terms of the amendment to the plan, the expiration date has been extended six months to September 5, 2016. In addition, the amendment to the rights plan changes the definition of “Acquiring Person” to increase the ownership threshold triggering the rights from 10% to 12.5% for any person who is not a passive institutional investor. Finally, under the amendment to the plan the purchase price for the exercise of rights has been changed to $12 from $24.

The Rights Agreement is designed to ensure fair and equitable treatment of all MagnaChip shareholders in the event of an unsolicited acquisition offer. The Board has determined that the amendment and extension of the Rights Agreement is in the best interest of MagnaChip shareholders as the Board, with assistance from its Strategic Review Committee, continues to consider and evaluate strategic alternatives that may be available to the Company.

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 the Board’s continued evaluation of strategic alternatives. 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 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 the risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission. 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
Director of Public Relations
Tel. +82-2-6903-3195
chankeun.park@magnachip.com