Profile: Cree Inc (CREE.O)

CREE.O on Nasdaq

1 May 2015
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Cree, Inc., incorporated on July 14, 1987, is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company's products are targeted for applications such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems. The Company's three segments are LED Products, Lighting Products, and Power and RF Products. The Company's Lighting Products consist of LED lighting systems and bulbs. The Company's power products are made from SiC. The Company's RF devices are made from gallium nitride (GaN).

The Company designs, manufactures and sells lighting fixtures and lamps for the commercial, industrial and consumer markets. The Company develops, manufactures and markets power and RF devices. The Company's products are manufactured at its production facilities located in North Carolina, Wisconsin and China. The Company also uses contract manufacturers for certain aspects of product fabrication, assembly and packaging. The Company operates research and development facilities in North Carolina, California, Wisconsin, India and China (including Hong Kong).

LED Products Segment

The Company's LED products consist of LED chips, LED components and silicon carbide (SiC) materials. The LED chip products include blue and green LED chips based on GaN and related materials. LED chips or die are solid state electronic components used in a number of applications and are currently available in a variety of brightness levels, wavelengths (colors) and sizes. The Company uses its LED chips in the manufacturing of LED components. Its blue and green LED chips are used in various applications, including video screens, gaming displays, function indicator lights and automotive backlights, headlamps and directional indicators. The blue LED chips can be combined with phosphors to create white LEDs, which are used in various applications for indoor and outdoor illumination and backlighting, full-color display screens, liquid crystal display (LCD) backlighting, white keypads and the camera flash function.

The LED components include a range of packaged LED products, from the Company’s XLamp LED components and LED modules for lighting applications to its high-brightness LED components. XLamp LED components and LED modules are lighting class packaged LED products designed to meet a range of market needs for lighting applications, including general illumination (both indoor and outdoor applications), portable, architectural, signal and transportation lighting.

The SiC materials are targeted at customers that use them to manufacture products for RF, power switching, gemstones and other applications. Corporate, government and university customers also use SiC materials for research and development directed at RF and high power devices. The Company markets its SiC materials in bulk form, as a bare wafer and with SiC or GaN epitaxial films.

The Company competes with Nichia Corporation (Nichia), OSRAM Opto Semiconductors GmbH (OSRAM), Koninklijke Philips Electronics N.V. (Philips), Samsung LED Company (Samsung), OSRAM, Toyoda Gosei Co., Ltd., Epistar Corporation

Lighting Products

The Company’s Lighting Products segment consists of LED lighting systems and bulbs. It designs, manufactures and markets lighting systems for indoor and outdoor applications, with a focus on LED lighting systems for the commercial, industrial and consumer markets. Lighting products are marketed to distributors, retailers and direct customers. The Company’s portfolio of lighting products is designed for use in various settings, such as office and retail space, restaurants and hospitality, schools and universities, manufacturing, healthcare, airports, municipal, residential, street lighting and parking structures.

The Company competes with Acuity Brands, Inc., the Cooper Lighting division of Eaton Corporation plc, General Electric Company, Hubbell Incorporated, Philips and OSRAM.

Power and RF Products

The Company’s Power and RF Products segment includes power devices and RF devices. Its SiC-based power products include Schottky diodes, SiC metal semiconductor field-effect transistors (MOSFETs), and SiC power modules. The power products are marketed for use in power supplies used in computer servers, solar inverters, uninterruptible power supplies, industrial power supplies and other applications. Its RF products include a variety of GaN high electron mobility transistors (HEMTs) and monolithic microwave integrated circuits (MMICs), which are optimized for military, telecom and other commercial applications. The RF devices are made from SiC and GaN. The Company also provides foundry services for GaN HEMTs and MMICs, and the services allow a customer to design its own custom RF circuits to be fabricated in the Company’s foundry.

The Company competes with Infineon Technologies AG, STMicroelectronics, Inc.; Rohm Co., Ltd.; Sumitomo Electric Device Innovations, Inc.; RF Micro Devices, Inc., and Triquint Semiconductor, Inc.

Company Address

Cree Inc

4600 Silicon Drive
DURHAM   NC   27703
P: +1919.3135300
F: +1919.3135558

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