Magnachip Announces Plan to Shut Down Display Business by End of Q2 2025
Magnachip Semiconductor Corporation (MX)
Last magnachip semiconductor corporation earnings: 2/19 04:05 pm
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Source: Business Wire
Company to Become a Pure-Play Power Business To Drive Profitable Growth and Maximize Shareholder Value-Company will continue to evaluate opportunities to monetize Display assets- 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 unanimously approved a plan to shut down the Company’s Display business by the end of the second quarter of 2025. The Company had previously announced its intention to explore all strategic options for the Display business and to classify the Display business as discontinued operations when it reports Q1 results in May in order to focus as a pure-play Power discrete and Power IC company and to achieve profitable revenue growth and maximize shareholder value. However, the Company has not been able to consummate a transaction following several months of discussions with several interested parties on terms that the Company’s Board
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