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SEOUL , South Korea , April 4 /PRNewswire/ -- MagnaChip Semiconductor, a leading designer and developer of image sensors, today announced that MagnaChip Semiconductor, Ltd., the Company's Korean operating company, filed a lawsuit on April 3, 2006 , in Seoul Central District Court against Pixelplus Co., Ltd. (Nasdaq: PXPL), a Korean company headquartered in the Seoul metropolitan area, for infringement of four Korean patents owned by MagnaChip. The lawsuit seeks approximately US $12 million in damages, plus interest, and requests an injunction against further infringement. The four patents relate to image sensor technology developed by MagnaChip and incorporated into the design and manufacturing processes for Pixelplus products.
Youm Huh, President and CEO of MagnaChip Semiconductor, said, "MagnaChip has world-class manufacturing capabilities and an extensive portfolio of approximately 11,900 registered and pending patents. The patents we hold are central to our business and our global market leadership. We will continue to protect our intellectual property rights by pursuing all available legal remedies when necessary. We respect the intellectual property rights of others, and we expect others to respect ours."
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 highvoltage, 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 11,900 registered and pending patents. As a result, MagnaChip is a valued partner inproviding leading technology solutions to its customers worldwide. For more information, visit http://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 firstname.lastname@example.org email@example.com
SOURCE MagnaChip Semiconductor
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