Spreadtrum names chairman
8/12/2010 12:31 PM EDT
SAN JOSE, Calif. - Spreadtrum Communications Inc., one of China's emerging wireless baseband chipset providers, has appointed President and Chief Executive Leo Li as the company's chairman.
Scott Sandell, an outside and independent director, as the lead director of the board, effective August 11.
Last year, Spreadtrum announced the promotion of Li from the company’s president to president and chief executive. At the time, Ping Wu, previously the CEO and chairman of the board of directors, retained his role as chairman of the board.
In March, Spreadtrum and Silver Lake jointly announced that Silver Lake acquired a minority stake in the Shanghai-based company.
In May, Spreadtrum (Shanghai) announced its unaudited financial results for the first quarter ended March 31. Total revenue increased 23 percent quarter-over-quarter and 534 percent year-over-year to $52.1 million, exceeding the company's previously guided range of $40-43 million.
GAAP net income was $6.6 million, compared with $1.4 million in the
previous quarter and a net loss of $8.3 million in 1Q09. For the second quarter, the company anticipates revenue to be in the range of $65-68 million.
The company sells various products, including the SC8800D. Spreadtrum’s SC8800D is a single TD-SCDMA/GSM/GPRS dual mode baseband chip, which is said to be the world's first TD-SCDMA dual-mode chip providing analog, digital and power management, plus multimedia application functions on a single chip.