Profile: Kopin Corp (KOPN.OQ)

KOPN.OQ on NASDAQ Stock Exchange Global Select Market

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Kopin Corporation, incorporated in 1984, is a developer and manufacturer of III-V products and miniature flat panel displays. The Company uses its semiconductor material technology to design, manufacture and market its products. Its products enable the customers to develop and market an improved generation of products for applications in wireless and consumer electronic devices. The Company commercially develops and manufactures Gallium Arsenide-based heterojunction bipolar transistor wafers (HBT transistor wafers) and other commercial semiconductor products that use Gallium Nitride and Gallium Arsenide-based substrates. It owns 78% of Kowon Technology Co. LTD (Kowon) located in South Korea, and 90% of Kopin Taiwan Corporation (KTC) located in Taiwan The Company operates in four segments: Kopin United States, which includes the operations in the United States and the Company’s equity method investments; Kowon; KTC, and FDD. On January 11, 2011, it acquired Forth Dimension Displays Ltd. (FDD). In January 2013, the Company sold its III-V assets to IQE plc.

The Company collectively refers to its products based on compound semiconductor materials, which primarily consists of its HBT transistor wafers, as its III-V products because it uses elements categorized on the III and V columns of the periodic table of elements to manufacture such products. Its HBT transistor wafers are customer-specific arrays of vertically oriented transistors that its customers use primarily to produce integrated circuits for wireless communications products. During the year ended December 31, 2011, sales of its HBT transistor wafers to Skyworks Solutions, Inc. (Skyworks Solutions) accounted for approximately 28% of its total revenues.

III-V Products

The Company manufactures its HBT transistor wafers using its metal organic chemical vapor deposition (MOCVD) semiconductor growth techniques and its Wafer Engineering process. This transistor structure enables the design of integrated circuits in which individual transistors are vertically arranged. The Company’s primary HBT transistor wafer products are based on indium gallium arsenide (InGaP), aluminum gallium arsenide (AlGaAs) and gallium nitride (GaN) vertical layer structures. It also offers customers pseudomorphic high electron mobility transistors (pHEMT) and BiHEMTs, a product which combines the HBT and pHEMTs into a single structure. Its manufacturing process to create customized HBT transistor wafer products for customers. Its HBT transistor wafers are used in code division multiple access, global system mobile and time division multiple access power amplifiers, third generation (3G) and fourth generation (4G) wireless handset standards. In addition to wireless handset power amplifiers, its HBT transistor wafers are also being used in the fabrication of power amplifiers for devices, which communicate using wireless fidelity (WiFi) integrated circuits. Its HBT transistor wafers are also used in high-speed fiber optic switching. During 2011, the Company’s III-V products accounted for 51% of its revenues.

The Company competes with IQE, Visual Photonics Epitaxy Co. Ltd., Hitachi Cable, RF Micro Devices and Fujitsu.

CyberDisplay Products and Golden-i Products

The Company’s principal CyberDisplay products are miniature high-density color or monochrome active matrix liquid crystal displays (LCDs) with resolutions, which range from approximately 320 x 240 resolution to 1280 x 1024 resolution, a device with a single display, backlight and optics in a plastic housing, which it calls an Electronic Viewfinder (EVF), a device which contains two CyberDisplays, light emitting diodes, optics and electronics in a plastic housing, which it calls a Binocular Display Module (BDM), and thermal weapon sight eyepieces which contain a CyberDisplay, light emitting diode, optics, and electronics in a hermetically sealed housing. Its customers either buy individual displays or a BDM from the Company to create an Eyewear product. The Company provides its CyberDisplay products to Samsung, Olympus, Fuji and Sanyo for use in digital camcorders and cameras and to the United States military and certain foreign governments for use in military applications. The Company's Golden-i products are focused to use laptop computers, personal computers, tablets, ruggedized portable computers referred to as tough books and a range of hand-held devices.

The Company competes with Sharp, Hitachi, Seiko, Toshiba, Sony, NEC, Sanyo, Panasonic, Toshiba, Dell, HTC, Hewlett Packard, Apple, Sony and Samsung.

Company Address

Kopin Corp

200 John Hancock Rd
TAUNTON   MA   02780-1042
P: +1508.8246696
F: +1302.6555049

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