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Marvell to Exit Smartphone Biz
2015-09-25 14:39:47| Telecom - Topix.net
Marvell Technology Group announced a "significant restructuring" in its flagging mobile platform business that will include layoffs, a write-down of assets, and apparently an exit from the smartphone market. The company said it "plans to significantly downsize the mobile platform organization to refocus its technology to emerging opportunities in IoT, automotive, and networking."
Tags: biz
exit
smartphone
marvell
Marvell announces major restructuring of mobile business
2015-09-25 09:35:00| Telecompaper Headlines
(Telecompaper) Marvell Technology announced plans for a significant restructuring of its mobile platform business in order to focus on more profitable products and opportunities. Going forward, the company will focus on wireless connectivity products, including Wi-Fi and other wireless standards needed to support its strategies in existing markets as well as expanding into emerging opportunities in the IoT and automotive segments. The restructuring plan will see the company cut 17 percent of the workforce associated with mobile and reduce annual operating costs by a total USD 170-220 million. The mobile platform business is currently expected to reach a gross profit of USD 13 million on revenues of USD 122 million in the first half of fiscal 2016. The restructuring will begin immediately and the company expects the major activities will take place through the end of fiscal 2016. The cost of the restructuring is estimated at USD 100-130 million, including USD 45-55 million in costs for the lay-offs in the second half of the fiscal year. Other major components include facilities and asset impairment charges of USD 30-40 million and an inventory writedown of USD 25-35 million. The company said it will discuss the restructuring of the mobile platform business in more detail during its next quarterly earnings conference call, the date of which is yet to be determined.
Tags: business
major
mobile
announces
Marvell and Leading European Telecom Provider Swisscom Expand Collaboration to Launch Ultra HD Android Set-Top Boxes
2015-09-21 12:31:21| Industrial Newsroom - All News for Today
Swisscom deploys Ultra HD services in Europe powered by Marvell's innovative ARMADA 1500 Ultra and Avastar 88W8897 Platform solution SANTA CLARA, Calif. - Marvell (NASDAQ:MRVL) - a worldwide leader in providing complete silicon solutions from mobile communications to storage, Internet of Things (IoT), cloud...
Tags: leading
expand
european
provider
Marvell and Leading European Telecom Provider Swisscom Expand...
2015-09-16 18:21:03| Wireless - Topix.net
The platform includes Marvell's proven Avastari 1 2 88W8897 2x2 Wi-Fi processor delivering carrier grade video services.i 1 2 Marvell's ARMADA 1500 Ultra cost-effectively delivers feature-rich UHD entertainment and gaming services to Swisscom's subscribers. This UHD partnership builds upon the successful launch and market acceptance of Swisscom TV 2.0 in 2014 .i 1 2 "Marvell provides innovative technologies that enable service providers to introduce new business models and revenue generating services with uncompromised image quality at an affordable cost," said , President and Co-Founder at Marvell.
Tags: leading
expand
european
provider
Avago Eyeing Bid for Marvell, Says Light Reading
2015-07-18 12:43:42| Semiconductors - Topix.net
Is chip maker Avago Technologies still on the buyout trail even as it has yet to digest its proposed $37 billion takeover of Broadcom ? That's the speculation this afternoon by Light Reading 's Sarah Thomas, who writes that a "reputable source" has told the site that Avago "is looking to make a bid for Marvell Technology Group . Thomas notes that colleague Simon Stanley who follows chips hasn't heard this rumor, but but notes that Marvell is one fifth the size of Broadcom, so market cap shouldn't be an issue, especially once Avago has Broadcom's buying power under its belt."
Tags: light
reading
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eyeing
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