PHOENIX, Ariz. – March 11, 2009 – ON Semiconductor Corporation (NASDAQ:ONNN) today announced that it has entered into a settlement agreement with Samsung Electronics Co., Ltd. that resolves the outstanding patent infringement actions that were pending in the District of Delaware, specifically, Samsung Electronics Co., Ltd. v. ON Semiconductor, civil action no. 06-720 (JJF) and ON Semiconductor v. Samsung Electronics Co., Ltd., civil action no. 07-449 (JJF) involving technology relevant to DRAM products.
Under the terms of the confidential settlement agreement, the parties have cross-licensed their respective patent portfolios for a significant term of years.
“I am very pleased that we have reached this settlement to end this patent litigation with Samsung,” commented Keith Jackson, ON Semiconductor president and CEO. “The settlement supports our long term strategic plans and reflects well on our willingness to develop flexible deal structures.”
About ON Semiconductor
With its global logistics network and strong product portfolio, ON Semiconductor (NASDAQ:ONNN) is a preferred supplier of high performance, energy efficient, silicon solutions to customers in the power supply, automotive, communication, computer, consumer, medical, industrial, mobile phone, and military/aerospace markets. The company's broad portfolio includes power, analog, DSP, mixed-signal, advance logic, clock management, non-volatile memory and standard component devices. Global corporate headquarters are located in Phoenix, Arizona. The company operates a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit https://www.onsemi.com.
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ON Semiconductor and the ON Semiconductor logo are registered trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company references its Web site in this news release, such information on the Web site is not to be incorporated herein.
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements related to the future financial performance of ON Semiconductor Corporation (“ON Semiconductor”) and ON Semiconductor’s planned actions regarding the referenced patent infringement dispute with Samsung and its related settlement. These forward-looking statements are based on information available to ON Semiconductor as of the date of this release and current expectations, forecasts and assumptions and involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks and uncertainties include a variety of factors, some of which are beyond ON Semiconductor’s control. In particular, such risks and uncertainties include, but are not limited to, the risk of additional costs and delays associated with the Samsung patent infringement dispute and related settlement, and the risk that the Samsung settlement does not end up supporting ON Semiconductor’s long term strategic plans. Other such risks and uncertainties include difficulties encountered in integrating merged businesses; the variable demand and the aggressive pricing environment for semiconductor products; dependence on each company’s ability to successfully manufacture in increasing volumes on a cost-effective basis and with acceptable quality for its current products; the adverse impact of competitive product announcements; revenues and operating performance; poor U.S. and global economic conditions and markets, including the related credit markets and related impacts; the cyclical nature of the semiconductor industry; changes in demand for our products; changes in inventories at customers and distributors; technological and product development risks; availability of raw materials; competitors' actions; pricing and gross margin pressures; loss of key customers; order cancellations or reduced bookings; changes in manufacturing yields; control of costs and expenses; significant litigation; risks associated with acquisitions and dispositions; risks associated with leverage and restrictive covenants in debt agreements; risks associated with international operations; the threat or occurrence of international armed conflict and terrorist activities both in the United States and internationally; risks and costs associated with increased and new regulation of corporate governance and disclosure standards; and risks involving environmental or other governmental regulation. Information concerning additional factors that could cause results to differ materially from those projected in the forward-looking statements is contained in ON Semiconductor’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (the “SEC”) on February 12, 2008, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other of ON Semiconductor’s SEC filings. These forward-looking statements should not be relied upon as representing ON Semiconductor’s views as of any subsequent date and ON Semiconductor does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made.