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Stock impact report

Magnachip Announces Plan to Become a Pure-Play Power Business To Drive Higher Profitability and Maximize Shareholder Value

Magnachip Semiconductor Corporation (MX) 
Last magnachip semiconductor corporation earnings: 2/19 04:05 pm Check Earnings Report
Company Research Source: Business Wire
-Company exploring all strategic options for Display to focus on higher-profit potential of Power and Power IC products- SEOUL, South Korea--(BUSINESS WIRE)--Magnachip Semiconductor Corporation (NYSE: MX) (“Magnachip” or the “Company”) today announced that after a thorough review, its Board of Directors and management team have made the decision to become a pure-play Power company to drive revenue growth, improve profitability, and maximize shareholder value. As a result, the Company is exploring all strategic options for its Display business, which will be classified as discontinued operations when the Company reports Q1 results in May. The Company’s strategic options include a sale, merger, joint venture, licensing, and wind-down. It expects to complete this strategic process and exit the Display business by the end of Q2 this year.Magnachip CEO YJ Kim said, “It was an extremely difficult decision when considering both our valued customers and employees. However, our priority is Show less Read more
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