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Qorvo® Selected by MediaTek as Key Supplier for the Inaugural Wave of Wi-Fi 7 FEMs Used in MediaTek Dimensity 9400

1. Qorvo's Wi-Fi 7 FEMs chosen by MediaTek for MT6653 chip. 2. Partnership enhances Wi-Fi 7 performance in mobile devices. 3. Qorvo's advanced FEMs offer flexibility in power management. 4. Shipping volume anticipated in Q4 2024, boosting Qorvo's market position.

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FAQ

Why Bullish?

This collaboration with MediaTek could increase QRVO's revenues and market share. Historical partnerships often lead to improved stock performance.

How important is it?

MediaTek's selection highlights QRVO's technological edge, indicating potential growth. Such developments often correlate with favorable market responses.

Why Short Term?

Volume shipping begins Q4 2024, likely leading to immediate revenue boosts. Similar past announcements often led to quick stock price reactions.

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MT6653MDT
Qorvo Wi-Fi 7 FEMs Optimized to Support MediaTek MT6653 WI-FI 7/Bluetooth® Combo Chip October 31, 2024 16:01 ET | Source: Qorvo, Inc. GREENSBORO, N.C., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, today announced that MediaTek has selected Qorvo as a key supplier for the inaugural wave of Wi-Fi 7 front-end modules (FEMs) on the MediaTek MT6653 Wi-Fi 7/Bluetooth® combo chip. Qorvo’s Wi-Fi 7 FEMs and the MediaTek MT6653 used in the MediaTek Dimensity 9400 platform are optimized to deliver a best-in-class end-user experience that help enable enhanced Wi-Fi 7 performance, power efficiency and technical features in mobile devices. Eric Creviston, president of Qorvo’s Connectivity and Sensors Group, said, “We’re pleased MediaTek has selected Qorvo to be a key supplier of Wi-Fi 7 FEMs for their next-generation mobile Wi-Fi platform. This achievement underscores our commitment to working closely with MediaTek and our joint customers to advance state-of-the-art mobile connectivity.” Qorvo offers the broadest and most advanced portfolio of Wi-Fi 7 FEMs for mobile applications, enabling customers to select the optimal solution for their specific products and market segments. Qorvo’s Wi-Fi 7 FEMs for mobile applications offer unmatched flexibility in power management and efficiency, which is critical to meeting the performance demands of 5G smartphones. The solutions feature additional transmit modes for enhanced efficiency and throughput across the entire operating power range. Qorvo FEMs support both linear and non-linear architectures, as well as low- to high-power offerings. They span the entire Wi-Fi 7 spectrum to address a broad range of applications including smartphones, consumer premises equipment (CPE), enterprise and industrial computing. Qorvo also offers Wi-Fi iFEMs that integrate BAW filtering to ensure optimal performance and reduce board space requirements while increasing efficiency and throughput. Qorvo’s Wi-Fi 7 FEMs supporting the MediaTek Dimensity 9400 platform will be shipping in volume during the fourth quarter of 2024. More information about Qorvo’s Wi-Fi innovations can be found at www.qorvo.com/innovation/wi-fi. About QorvoQorvo (Nasdaq: QRVO) supplies innovative semiconductor solutions that make a better world possible. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers’ most complex technical challenges. Qorvo serves diverse high-growth segments of large global markets, including automotive, consumer, defense & aerospace, industrial & enterprise, infrastructure and mobile. Visit www.qorvo.com to learn how our diverse and innovative team is helping connect, protect and power our planet. Media Contact: Alexis MarianiStrategic Marketing ManagerAlexis.Mariani@qorvo.com This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions, and are not historical facts and typically are identified by use of terms such as “may,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management’s current judgment and expectations, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under U.S. federal securities laws. Our business is subject to numerous risks and uncertainties, including those relating to fluctuations in our operating results; our substantial dependence on developing new products and achieving design wins; our dependence on a few large customers for a substantial portion of our revenue; a loss of revenue if contracts with the United States government or defense and aerospace contractors are canceled or delayed or if defense spending is reduced; the COVID-19 pandemic, which has and will likely continue to negatively impact the global economy and disrupt normal business activities, and which may have an adverse effect on our results of operations; our dependence on third parties; risks related to sales through distributors; risks associated with the operation of our manufacturing facilities; business disruptions; poor manufacturing yields; increased inventory risks and costs due to timing of customer forecasts; our inability to effectively manage or maintain evolving relationships with platform providers; risks from international sales and operations; economic regulation in China; changes in government trade policies, including imposition of tariffs and export restrictions; our ability to implement innovative technologies; underutilization of manufacturing facilities as a result of industry overcapacity; we may not be able to borrow funds under our credit facility or secure future financing; we may not be able to generate sufficient cash to service all of our debt; restrictions imposed by the agreements governing our debt; volatility in the price of our common stock; damage to our reputation or brand; fluctuations in the amount and frequency of our stock repurchases; our recent and future acquisitions and other strategic investments could fail to achieve financial or strategic objectives; our ability to attract, retain and motivate key employees; our reliance on our intellectual property portfolio; claims of infringement of third-party intellectual property rights; security breaches and other similar disruptions compromising our information; theft, loss or misuse of personal data by or about our employees, customers or third parties; warranty claims, product recalls and product liability; and risks associated with environmental, health and safety regulations and climate change. Many of the foregoing risks and uncertainties are, and will continue to be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result. These and other risks and uncertainties, which are described in more detail in Qorvo’s most recent Annual Report on Form 10-K and in other reports and statements filed with the Securities and Exchange Commission, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.

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