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Updated: July 8th, 2008 05:26 PM CDT

MagnaChip Semiconductor Sells its Application Processor Business

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via PRNewswire

Dr. Youm Huh , President and CEO of MagnaChip Semiconductor, said, "After this deal, we plan to focus further on our three core businesses -- Display Solutions, Imaging Solutions and our Semiconductor Manufacturing Services. By maintaining a 10% equity stake in the new entity, we will continue to benefit from future upside expected from the combination of GreenChips and MagnaChip's Application Processor businesses. We are also pleased that MagnaChip will continue to provide foundry services to the new entity."

About MagnaChip Semiconductor

MagnaChip Semiconductor is a leading designer, developer and manufacturer of mixed-signal and digital multimedia semiconductors addressing the convergence of consumer electronics and communications devices. We focus on CMOS image sensors and flat panel display drivers, which are complex, high performance, mixed signal semiconductors that capture images and enable and enhance the features and capabilities of both small and large flat panel displays. MagnaChip also provides wafer foundry services utilizing CMOS high voltage, embedded memory, analog and power process technologies for the manufacture of IC's for customer-owned designs. MagnaChip has world-class manufacturing capabilities and an extensive portfolio of approximately 12,500 registered and pending patents. As a result, MagnaChip is a valued partner inproviding leading technology solutions to its customers worldwide. For more information, visit www.magnachip.com.

CONTACTS: In Korea: In the U.S.: Youngjae Chang, PR Manager David Pasquale, EVP at The Ruth Group Tel: 82-2-3459-5884 Tel: +646-536-7006 youngjae.chang@magnachip.com dpasquale@theruthgroup.com

SOURCE MagnaChip Semiconductor Ltd.


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