Maxim Integrated and Serial Microelectronics Sign Distribution Agreement

Rhea-AI Summary

Maxim Integrated Products (MXIM) has entered into a distribution agreement with Serial Microelectronics (HK) Ltd (SMHK) to distribute its products in China and Hong Kong, effective immediately. This partnership aims to leverage SMHK's established presence in the Chinese semiconductor market to enhance product availability and innovation. Maxim Integrated focuses on advanced analog and mixed-signal technologies for multiple industries including IoT and automotive. Both companies are optimistic about increasing Maxim's market share in the Asia-Pacific region through this collaboration.

Positive

• Strategic distribution agreement with SMHK may enhance market presence in China and Hong Kong.
• SMHK has a strong existing customer base and supply chain in the Asia-Pacific region.
• Collaboration aims to advance innovation in key sectors such as IoT and automotive.

Negative

• None.

SAN JOSE, Calif. and SHANGHAI, Sept. 23, 2020 /PRNewswire/ -- Serial Microelectronics (HK) Ltd ("SMHK") today announced that they have entered into a distribution agreement with Maxim Integrated Products, Inc. (NASDAQ: MXIM) for the distribution of all Maxim Integrated products in China and Hong Kong. The agreement is effective immediately.

The strategic partnership between Maxim Integrated and SMHK will provide a brand-new opportunity for both parties in China. SMHK has been deeply involved in the Chinese semiconductor market for many years and has a strong, growing customer base. As a developer of innovative analog and mixed-signal products and technologies, Maxim Integrated empowers design innovation for customers in several markets, including the areas of industrial, IoT, automotive and communications. Both parties will work together to advance development in these industries and provide customers with better products and services.

Commentary

• "SMHK has a mature supply chain service system in the Asia-Pacific region, and provides well-rounded support for industrial, automotive and communications segments. These are areas where Maxim Integrated is dedicated to as well," said Ting Li, vice president of Sales for Greater China and rest of Asia (ROA) at Maxim Integrated. "We are very excited to begin our collaboration with SMHK to expand the Asia-Pacific market. I have every confidence in the ability of SMHK to help Maxim Integrated reach even higher performance in this region."
• "As a leading global supplier of analog ICs, Maxim Integrated has achieved a significant market position for its excellent products and services. We are honored to be a partner of Maxim Integrated," said Lawrence Ho, president of SMHK. "As the world's largest and fastest-growing integrated circuit market, China is providing a flourishing opportunity for the industry. We believe our cooperation can further increase the market share of Maxim Integrated in the Asia-Pacific region and jointly build a brighter future for all customers."

About Maxim Integrated
Maxim Integrated develops innovative analog and mixed-signal products and technologies to make systems smaller and smarter, with enhanced security and increased energy efficiency. We are empowering design innovation for our automotive, industrial, healthcare, mobile consumer and cloud data center customers to deliver industry-leading solutions that help change the world. Learn more at https://www.maximintegrated.com.

About Serial Microelectronics (HK) Ltd
Established in 2001, Serial Microelectronics (HK) Ltd ("SMHK") is one of leading authorized distributors of electronic components in the Asia-Pacific region. In 2017, SMHK crossed the $1 billion revenue mark. SMHK creates an integral supply chain with our suppliers and manufacturers by becoming a seamless extension of their operations, which gives SMHK the ability to align to the goals of its customers and suppliers, understand their needs better to reduce time-to-market and response time, as well as improve inventory management. In meeting their engineering and supply chain needs, SMHK has become their integral component to success. SMHK has a customer base of more than 2,000, spanning a diverse range of industries such as industrial, consumer electronics, automotive, telecommunication and household appliances, etc. For more information, visit http://www.serialsystem.com.

Contact:              

Ferda Millan
408-601-5429
Ferda.Millan@maximintegrated.com

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SOURCE Maxim Integrated Products, Inc.

FAQ

What is the new agreement between Maxim Integrated (MXIM) and SMHK?

Maxim Integrated has signed a distribution agreement with Serial Microelectronics (HK) Ltd to distribute its products in China and Hong Kong.

When did Maxim Integrated announce the distribution agreement with SMHK?

The distribution agreement was announced on September 23, 2020.

What markets will Maxim Integrated focus on through the SMHK partnership?

Maxim Integrated will focus on advancing development in the industrial, IoT, automotive, and communications sectors through the partnership.

What is the significance of SMHK's role in the partnership with Maxim Integrated?

SMHK has a mature supply chain and strong customer base in the Asia-Pacific region, which can help Maxim Integrated enhance its market share.