SAN JOSE, Calif. - Fairchild Semiconductor has entered into a memorandum of understanding (MOU) with China's Sichuan Changhong Electric Co. Ltd.
The partnership enables the companies to collaborate further on product development. Changhong has committed to fulfilling purchasing target plans for Fairchild’s power and mobile components through December of 2015. Fairchild’s devices are designed into a broad range of Changhong products, including LED TVs, PDP TVs, LCD TVs, CRT TVs, set-top boxes, refrigerators and air conditioners.
Fairchild and Changhong maintain a close relationship, which started in 2004 with the establishment of a joint product development laboratory. Based in Sichuan’s Mianyang City, Sichuan Changhong Electric is one of the province’s leading enterprises and has been ranked number one in China’s domestic consumer electronics market; one out of every four TVs in China is manufactured by Changhong.
In July, Fairchild announced results for the second quarter ended June 27, 2010. Fairchild reported second quarter sales of $409.6 million, up 8 percent from the prior quarter and 47 percent higher than the second quarter of 2009. Fairchild reported second quarter net income of $43.8 million or $0.34 per diluted share compared to net income of $22.6 million or $0.18 per diluted share in the prior quarter and a net loss of $24.9 million or $0.20 per share in the second quarter of 2009.