Orbic North America and GCT Semiconductor Sign LOI to Develop and Supply Orbic-Branded FWA Gateway and Mobile Hotspot with GCT's Verizon-Certified 5G Module [Yahoo! Finance]
Verizon Communications Inc. (VZ)
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Source: Yahoo! Finance
innovation, and GCT Semiconductor Holding, Inc. ("GCT") (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, today announced the signing of a letter of intent (LOI) for a partnership to jointly develop and supply an Orbic-branded mobile hotspot and FWA gateway utilizing a Verizon-certified 5G module based on GCT's new 5G chipset. The LOI outlines the framework for collaboration between the parties, including terms related to volume purchases for supply to Verizon and other operators. As part of the collaborative multi-phase market rollout, Orbic and GCT will initially focus on devices for the Verizon network. Additionally, they will offer versions of the module and devices, including mobile hotspots and CPEs, to other network operators worldwide. GCT will support the joint development and technical efforts by providing core services, including technical expertise, and chipsets for volume production requirements. "We are thrilled to partner w
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