About Qorvo

Qorvo, Inc. (Qorvo) operates as a global leader in the development and commercialization of technologies and products for wireless, wired and power markets. The company operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). HPA is a leading global supplier of radio frequency (RF) and power solutions for automotive, defense and aerospace, cellular infrastructure, broadband and other markets.HPA leverages a diverse portfolio of differentiated technologies and products to support multiyear growth trends, including electrification, renewable energy, the increasing semiconductor spend in defense and 5G deployments outside of China. CSG is a leading global supplier of connectivity and sensor solutions, with broad expertise spanning ultra-wideband (UWB), Matter, Bluetooth Low Energy, Zigbee, Thread, Wi-Fi, cellular Internet of Things (IoT), microelectromechanical system (MEMS)-based sensors and bulk acoustic wave (BAW)-based sensors. CSG combines the connectivity and sensors businesses formerly split between MP and IDP. CSG’s markets include smart home, industrial automation, automotive, smartphones, wearables, gaming, and industrial and enterprise access points. ACG is a leading global supplier of cellular RF solutions for smartphones, wearables, laptops, tablets and other devices. ACG leverages world-class technology and systems-level expertise to deliver a broad portfolio of high performance cellular products to the world's leading smartphone and consumer electronics companies. ACG is a highly diversified supplier of custom and open market cellular solutions, serving iOS and Android original equipment manufacturers. The company’s design expertise and manufacturing capabilities span multiple process technologies. The company’s primary wafer fabrication facilities are in North Carolina, Oregon and Texas. The company’s primary assembly and test facilities are in China, Costa Rica, Germany and Texas. The company has design, sales and other manufacturing facilities throughout Asia, Europe and North America. The company also sources products and materials through external suppliers. In addition to organic growth, the company’s strategy includes the potential acquisition of businesses, assets and technologies that complement its existing capabilities and enable it to drive growth in new or existing markets. Markets and Products The company’s business is diversified across markets, including mobile devices, cellular infrastructure, power management and conversion, IoT, connected home, defense and aerospace, and automotive. The company’s products solve its customers’ most complex RF and power-related challenges while enhancing performance, improving efficiency, increasing functionality, reducing complexity, shrinking form factors and addressing other critical challenges. Mobile Devices Qorvo’s largest market is mobile devices, which is a global market characterized by large volumes. It includes smartphones, wearables, laptops, tablets and other devices. The company’s products for mobile devices include highly integrated RF solutions featuring filters, switches, amplifiers, multiplexers and other components leveraging multiple process technologies in a miniaturized form factor. The company’s portfolio also includes power management integrated circuits (ICs), UWB system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches. In addition, mobile device original equipment manufacturers (OEMs) are leveraging UWB's precision-location accuracy to enhance functionality with applications that can offer secure remote access, indoor navigation and other functionality. They are also seeking to adopt force-sensing touch sensor technology to enhance human-machine interfaces, create new consumer experiences and advance industrial design. Cellular Infrastructure Qorvo supports the world’s leading cellular base station OEMs with a broad portfolio of infrastructure solutions to address requirements for increased data capacity and throughput and improved efficiency. The company’s cellular base station products include switches, low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs and high power amplifiers and power amplifier modules combining high power amplifiers with small signal content. These products leverage deep expertise across technologies including gallium nitride (GaN) and gallium arsenide (GaAs). 5G networks operate over a wide range of frequencies, and deployments can vary with spectrum allocation, regional demographics, geopolitical considerations and other factors. In the U.S., the allocation of C-band frequency has supported the deployment of base stations operating in the sub-7 GHz frequency range. Many of these base stations are configured with massive MIMO active antenna arrays, which increases the number of RF transmit and receive channels. Base stations operating over millimeter wave frequencies are also being deployed to address capacity requirements in high-density environments and support applications, such as fixed wireless access. Power Management and Conversion Power efficiency is a core requirement in all electronics, and power management and power conversion are critical to enhancing efficiency. Industry trends in electric vehicles (EVs)/hybrid-EVs, renewable energy systems, battery-operated portable devices, EV chargers, on-board chargers, data storage, circuit protection and similar applications, are sharpening the focus on power efficiency and increasing the demand for the company’s power management and power conversion solutions. Qorvo’s silicon carbide (SiC) power devices provide state-of-the-art efficiency in a range of power conversion applications. The company’s SiC portfolio includes Schottky diodes and transistors ranging in voltage from 650V to 1700V. Power levels vary from 650 watts to hundreds of kilowatts, and markets include automotive, industrial, IT infrastructure and renewable energy. Qorvo’s power management solutions include programmable power management ICs and power application controllers (PACs). The company’s programmable power management ICs provide customers digital and analog power control. The comopany’s power management products manage voltages from 1.8V to 600V and power up to 4,000 watts. IoT and Connected Home The proliferation of data-driven connected devices that sense, process and communicate is increasing demand for wireless connectivity solutions that increase throughput and capacity, reduce latency, enhance security, and maximize efficiency. Use cases in consumer, commercial and industrial IoT applications include connected cars, cloud gaming, AR/VR, telemedicine and factory automation. Connected home devices allow remote access and control of applications, including entertainment, comfort, health monitoring, and property monitoring and security. These devices can be controlled through a computer, tablet or smartphone, or through a direct peer-to-peer device such as a voice-enabled remote control, tablet or home control assistant. In Wi-Fi, new standards and architectures, such as 802.11ax (Wi-Fi 6), Wi-Fi 6E and Wi-Fi 7, are enhancing performance, increasing range and capacity, and enabling new use cases. The upcoming Wi-Fi 7 standard will double the channel bandwidth and number of spatial streams compared to Wi-Fi 6E and use multi-link operation to combine portions of the 5 GHz and 6 GHz bands into a single link. This will enable faster speeds over longer distances. As standards and architectures evolve, requirements increase for more functional and more highly integrated RF front end solutions. Qorvo’s Wi-Fi portfolio includes PAs, switches, LNAs and BAW filters, as well as solutions including front end modules (FEMs) and iFEMs featuring integrated filters. In lower power applications, smart device OEMs increasingly prefer multi-protocol integrated SoCs that enable multiple radios to connect concurrently. The coexistence of multiple low power wireless protocols, such as Bluetooth Low Energy, Zigbee, and Thread, in single-placement SoCs reduces form factor, extends battery life and advances the proliferation of IoT devices. Matter is an open and universal smart home overlay developed to simplify multi-protocol interoperability and accelerate adoption of IoT devices and platforms. Lastly, UWB is enabling new use cases that require precision location accuracy and security, including secure home access, secure car access, indoor navigation and other applications. Qorvo's low power portfolio includes multi-protocol (Bluetooth Low Energy, Zigbee and Thread) SoC solutions, single standard UWB SoCs, and UWB SiP solutions that consist of SoC hardware, firmware and application software. Defense and Aerospace In defense and aerospace, Qorvo focuses primarily on high-power phased array radar, electronic military applications and communications systems. Within these markets, the adoption of phased array radar, the introduction of new frequency bands and the shift to higher frequencies are expanding the opportunity for the company’s products and technologies. The company is a leading supplier of RF products and compound semiconductor foundry services to defense primes and other global defense and aerospace customers. The company also engages directly with defense customers to develop next-generation semiconductor and packaging technologies. The company’s PAs support phased array radars and communication systems. The company’s solid-state, high-power products provide highly reliable, efficient broadband solutions for complex applications across a broad frequency spectrum. The company’s premium filters optimize frequency spectrum to expand network capacity and extend coverage. The company also offers industry-leading standard products and integrated multi-chip modules, such as LNAs, mixers, phase shifters, switches, multiplexers and attenuators. Automotive The company’s force-sensing touch sensors enable an enhanced human-machine interface experience in automotive smart interior applications. The company’s UWB solutions leverage ultra-low latency and precision location accuracy to enable digital key access and digital key sharing while reducing the risk of man-in-the-middle, or relay attacks possible with legacy technologies. Similarly, electrification trends and the adoption of EVs/hybrid-EVs are increasing the need for more efficient power delivery solutions and increasing requirements for semiconductor content in automotive markets. This supports increasing adoption of compound semiconductor technologies, such as SiC. The company’s connectivity and sensor products for automotive applications include BAW filters, LNAs, switches, PAs, front-end solutions, force-sensing touch sensors, and UWB solutions. The company’s automotive power products include traction inverters, on-board chargers, and DC/DC converters. The company’s products meet or exceed automotive AEC-Q100 quality and reliability standards, and its customers include market leading automotive Tier-1 suppliers. Customers The company designs, develops, manufactures and markets its products and solutions for leading U.S. and international OEMs and original design manufacturers (ODMs). The company also collaborates with leading reference design partners and provide foundry services to defense primes and other defense and aerospace customers. The company provides products to its largest end customer, Apple Inc. (Apple), through sales to multiple contract manufacturers, which in the aggregate accounted for 37% of total revenue in fiscal years 2023. Samsung Electronics Co., Ltd. (Samsung) accounted for 12% of total revenue in fiscal years 2023. These customers primarily purchase RF solutions for a variety of mobile devices. Sales and Marketing The company sells its products worldwide both directly to customers and through a network of the U.S. and foreign sales representative firms and distributors. The company selects its sales representative firms and distributors based on technical skills and sales experience, the presence of complementary product lines and the customer base served. The company provides ongoing educational training about its products to its internal and external sales representatives and distributors. The company maintains an internal sales and marketing organization that is responsible for key account management, application engineering support for customers, sales and advertising literature, and technical presentations for industry conferences. The company’s sales and customer support centers are located near its customers throughout the world. The company’s website contains extensive product information and includes an online store where customers can learn about its products, download product catalogs, order product samples and request evaluation boards. The company’s global team of application engineers interacts with customers during all stages of design and production, maintains regular contact with customer engineers, provides product application notes and engineering data, and assists in the resolution of technical problems. The company maintains close relationships with its customers and chipset suppliers and provides them strong technical support to enhance their customer experience and help anticipate future product needs. Seasonality The company’s sales are the result of standard purchase orders or specific agreements with customers. The company’s revenue fluctuates based on consumer demand for devices, as well as the timing of customer device launches. Competition HPA competes primarily with Analog Devices, Inc.; Infineon Technologies AG; MACOM Technology Solutions Holdings, Inc.; NXP Semiconductors N.V.; ON Semiconductor Corporation; STMicroelectronics N.V.; Sumitomo Electric Device Innovations; Texas Instruments, Inc.; and Wolfspeed, Inc. CSG competes primarily with Broadcom Inc.; Nordic Semiconductor; NXP Semiconductors N.V.; Qualcomm Technologies, Inc.; Silicon Laboratories Inc.; and Skyworks Solutions, Inc. ACG competes primarily with Broadcom Inc.; Murata Manufacturing Co., Ltd.; Qualcomm Technologies, Inc.; and Skyworks Solutions, Inc. Intellectual Property The company has approximately 2,250 patents that have expiration dates between 2023 and 2041. Government Regulations The company’s products are compliant with the European Union RoHS Directive (2011/65/EU on the Restriction of Use of Hazardous Substances), which prohibits the sale in the European Union market of new electrical and electronic equipment containing certain families of substances above a specified threshold. The company is an ISO 14001:2015 certified manufacturer with a comprehensive Environmental Management System (EMS) in place to help ensure control of the environmental aspects of the manufacturing process. History Qorvo, Inc. was founded in 1957. The company was incorporated in 1991.