By Dean Seal
The board of Magnachip Semiconductor has approved a plan to shut down the company's display business at the end of the second quarter.
The South Korean chipmaker had been trying to sell the business, but said Tuesday that after months of discussions with several interested parties, it has not been able to consummate a transaction that would be in the best interest of shareholders.
Shuttering the business will allow Magnachip to carry on with its strategy of becoming a pure-play power company and achieve profitable revenue growth, it said.
The closure will include the liquidation of Magnachip Mixed-Signal, which operated the display business. Magnachip said it would continue to look for opportunities to monetize the segment's assets.
The actions are expected to result in a 30% to 3% reduction in annualized operating costs.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 08, 2025 07:38 ET (11:38 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。