Sitronix Selects MagnaChip for their Best Cooperative Partner Award

SEOUL, South Korea and SAN JOSE, Calif., April 4, 2016 /PRNewswire/ -- MagnaChip Semiconductor Corporation ("MagnaChip") (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, announced today that MagnaChip was selected for "The Best Cooperative Partner Award" by Sitronix Technology, a leading fabless IC company based in Taiwan.

The business relationship with Sitronix has a long history with MagnaChip having been chosen as their foundry to provide wafer manufacturing services for eBook MCUs and display driver ICs applications. More recently, the product mix has expanded to include small TFT panel driver ICs for feature phones and large TFT panel driver ICs. The total cumulative volume of wafers shipped to Sitronix has surpassed the 1 million mark, a significant milestone indicating the strategic importance of the on-going business relationship for both companies.

"We strongly believe that the continued support from MagnaChip has helped us grow our business to where we are today," said Vincent Mao, Chairman and Chief Executive Officer of Sitronix. "We look forward to continuing our business relationship while continuously finding areas to collaborate in the future."

"I am very pleased that MagnaChip was honored with the Best Cooperative Partner Award from our important business partner, Sitronix Technology," said YJ Kim, Chief Executive Officer of MagnaChip. "We are committed to Sitronix and all our business partners to find areas where we can participate in technological development and product growth to provide leading-edge customer solutions."

About Sitronix
Sitronix Technology Corporation (TWSE: 8016) is a Taiwan-based fabless semiconductor company that primarily focuses on display driver ICs (DDIs) for entry-level mobile phones, industrial displays, and automotive systems. Sitronix is the feature phone DDI market leader with a global footprint spanning Latin America, Southeast Asia, Africa and other regions. In recent years, the company has also seen tremendous growths in its smartphone and sensor businesses.

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest ranges of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.

SOURCE MagnaChip Semiconductor Corporation

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