Specialty foundry Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM), which markets as TowerJazz, and South Korea's DMB Technology Ltd. have begun production and shipments of DMG digital audio amplifiers using TowerJazz's 0.18-micron process. Market sources estimate Tower's revenue from the deal at $20 million in 2013. The amplifiers are embedded in high volume digital TV and mini/micro audio systems.
According to a report by DisplaySearch, LCD TVs continue to be the primary TV type shipped worldwide, and were estimated to account for about 84% of all TV shipments in 2011. It expects total LCD TV shipments to increase steadily, reaching 270 million units by 2014.
Tower and DMB are also collaborating on LED drivers, LNBP ICs, and DC/DC converters. Tower's foundry in Japan will supply the products to DMB.
Tower's share price rose 5.4% by early afternoon on the TASE today to NIS 2.80, after rising 4.3% on Nasdaq yesterday to $0.72, giving a market cap of $225 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 14, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012