Aramco and GCT Semiconductor Holding, Inc. Sign MOU to Accelerate the Development of the 4G and 5G Ecosystem in Saudi Arabia

Rhea-AI Summary

Aramco signs MOU with GCT Semiconductor Holding Inc. to collaborate on developing 4G/5G ecosystem in Saudi Arabia. The partnership aims to design chipsets and modules for LTE, 5G, and NTN spectrum to support local wireless device manufacturing.

SAN JOSE, Calif. & DHAHRAN, Saudi Arabia--(BUSINESS WIRE)-- Aramco has signed a Memorandum of Understanding (MOU) with GCT Semiconductor Holding Inc. (“GCT”) (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, setting the stage for a strategic collaboration that would further develop the 4G/5G ecosystem in Saudi Arabia for both mission-critical and public safety networks.

The collaboration aims to design and co-develop chipsets and modules tailored for LTE, 5G and the NTN spectrum in order to support the localization of wireless end-user devices and IoT manufacturing throughout the Kingdom.

“We look forward to working with Aramco and leveraging our advanced 4G and 5G capabilities with future-focused AI-driven modem features to help develop the local ecosystem and provide reliable and fast communication for their key applications in Saudi Arabia and the broader region,” said John Schlaefer, CEO of GCT Semiconductor, Inc.

About GCT Semiconductor Holding, Inc.

GCT is a leading fabless designer and supplier of advanced 5G and 4G LTE semiconductor solutions. GCT’s market-proven solutions have enabled fast and reliable 4G LTE connectivity to numerous commercial devices such as CPEs, mobile hotspots, routers, M2M applications and smartphones, etc., for the world’s top wireless carriers. GCT’s system-on-chip solutions integrate radio frequency, baseband modem and digital signal processing functions, therefore offering complete 4G and 5G platform solutions with small form factors, low power consumption, high performance, high reliability, and cost-effectiveness. For more information, visit www.gctsemi.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240405113613/en/

Investor relations website: investors.gctsemi.com

Investor relations contact: Gateway Group, Matt Glover & Ralf Esper, GCT@gateway-grp.com

Media contact: Sophie Heerinckx, sheerinckx@gctsemi.com

Source: GCT Semiconductor Holding, Inc.

FAQ

What is the significance of the MOU between Aramco and GCT Semiconductor Holding Inc.?

The MOU aims to collaborate on developing the 4G/5G ecosystem in Saudi Arabia for mission-critical and public safety networks.

What are the focus areas of the collaboration between Aramco and GCT Semiconductor Holding Inc.?

The collaboration aims to design and co-develop chipsets and modules tailored for LTE, 5G, and the NTN spectrum to support local wireless end-user devices and IoT manufacturing in Saudi Arabia.

Who is the CEO of GCT Semiconductor Holding Inc.?

John Schlaefer is the CEO of GCT Semiconductor Holding Inc.

What are the key objectives of leveraging GCT's advanced 4G and 5G capabilities in the collaboration?

The collaboration aims to leverage GCT's advanced capabilities to develop AI-driven modem features for reliable and fast communication in Saudi Arabia and the broader region.

What is the ticker symbol for GCT Semiconductor Holding Inc.?

The ticker symbol for GCT Semiconductor Holding Inc. is GCTS.