CREE Has Been Purchased New LEDs In The Works
Details are sketchy but CREE hinted silicon carbide-based LEDs are in the works. 50+% less heating. Much more efficient. Silicon Carbide?
Forum Discussion
Hate to be the bearer of bad news, Cree is SELLING OR SPINNING OFF their LED business unit to a Third party investment group (a "Carve out").
They will not be investing another "Penny" into the LED lighting business.
In other words Cree is DUMPING the LED Lighting business in order to concentrate on OTHER Semiconductor business more closely related to Electric Vehicles.
HERE is a link to the story..
From link above..
"Lighting
Cree to sell LED business for $300 million
Peter Brown
20 October 2020
Cree Inc. has agreed to sell its light emitting diode (LED) business to Smart Global Holdings Inc., a maker of memory modules, solid state storage products and hybrid solutions.
The deal, valued at $300 million, is designed to continue Cree’s transition to a pure play global semiconductor company and help accelerate shifts from silicon to silicon carbide that the company hopes will fuel high growth markets such as electric vehicles, 5G and industrial applications.
Cree’s LED business is comprised of LED chip and high-performance LED components. Smart will license and incorporate the Cree LED brand name into the Smart portfolio of businesses.
Smart said the acquisition has strategic benefits such as giving it a foothold in the LED lighting industry including general listing, specialty lighting, video screens and outdoor and architectural lighting. Additionally, Smart will get access to Cree’s customer and distribution network with more than 1,000 customers and 2,000 patents.
Smart will add the 2,000 employees from Cree’s LED workforce that includes 200 engineers, R&D, sales and marketing and management team. The transaction is subject to regulatory approvals with a target closing of the first quarter of 2021."
Good move for Cree, the LED lighting business is no longer a high profit business, it is loaded with plenty of cut throat cheap manufacturing which means Cree is not making as much profit as they want or need to generate.
Although, it isn't all that bad, Cree hasn't made a long lasting quality LED for quite some time and has been coasting on that name.. I swore off ever buying any more Cree branded LEDs a few yrs back, never was able to get them to last long.
By they way, this may affect any warranties on old LED product as the spin off may or may not honor it.. No laws say they must.
They will not be investing another "Penny" into the LED lighting business.
In other words Cree is DUMPING the LED Lighting business in order to concentrate on OTHER Semiconductor business more closely related to Electric Vehicles.
HERE is a link to the story..
From link above..
"Lighting
Cree to sell LED business for $300 million
Peter Brown
20 October 2020
Cree Inc. has agreed to sell its light emitting diode (LED) business to Smart Global Holdings Inc., a maker of memory modules, solid state storage products and hybrid solutions.
The deal, valued at $300 million, is designed to continue Cree’s transition to a pure play global semiconductor company and help accelerate shifts from silicon to silicon carbide that the company hopes will fuel high growth markets such as electric vehicles, 5G and industrial applications.
Cree’s LED business is comprised of LED chip and high-performance LED components. Smart will license and incorporate the Cree LED brand name into the Smart portfolio of businesses.
Smart said the acquisition has strategic benefits such as giving it a foothold in the LED lighting industry including general listing, specialty lighting, video screens and outdoor and architectural lighting. Additionally, Smart will get access to Cree’s customer and distribution network with more than 1,000 customers and 2,000 patents.
Smart will add the 2,000 employees from Cree’s LED workforce that includes 200 engineers, R&D, sales and marketing and management team. The transaction is subject to regulatory approvals with a target closing of the first quarter of 2021."
Good move for Cree, the LED lighting business is no longer a high profit business, it is loaded with plenty of cut throat cheap manufacturing which means Cree is not making as much profit as they want or need to generate.
Although, it isn't all that bad, Cree hasn't made a long lasting quality LED for quite some time and has been coasting on that name.. I swore off ever buying any more Cree branded LEDs a few yrs back, never was able to get them to last long.
By they way, this may affect any warranties on old LED product as the spin off may or may not honor it.. No laws say they must.
