Qualcomm MEMS Technologies Inc., a wholly owned subsidiary of Qualcomm Incorporated (NASDAQ: QCOM), today announced the culmination of months of collaboration with Taiwan’s Ministry of Economic Affairs (MOEA) to expand the manufacturing capacity of mirasol® displays in Taiwan with the construction of a new fabrication facility in Longtan. The initial phase of the announced facility is expected to result in up to $975 million U.S. of investment by Qualcomm, and the facility is expected to be operational in 2012.
This investment and facility demonstrates the continued maturation of the flat panel display industry in Taiwan by way of close collaboration with the MOEA. As a major hub for manufacturing electronic components for the global technology industry, Taiwan is at the leading edge of the growing communications technology market.
“The Ministry of Economic Affairs has played a key role in Qualcomm growing its presence in Taiwan,” said Jim Cathey, vice president of business development, Qualcomm MEMS Technologies Inc. “Our relationship with Taiwanese government agencies on all levels has resulted in valuable and important milestones being met. We wish to express our gratitude to MOEA Minister Dr. Shih Yen-Shiang and his very capable and dedicated team for their strong support of Qualcomm and for their efforts to make Taiwan an attractive investment destination.”
“We are happy to be a part of Qualcomm’s growing business activities in Taiwan and look forward to further strengthening the display technology industry in the coming years,” said Dr. Shih Yen Shiang, MOEA minister.
The new facility will further support Qualcomm’s commercialization of small-to medium-sized mirasol displays. The new facility will be located in the Longtan base of the Hsinchu Science Park.
About Qualcomm MEMS Technologies Inc.
Qualcomm MEMS Technologies has developed the industry’s first micro-electrical mechanical system MEMS display for mobile devices – a true technological innovation that offers low power consumption and superb viewing quality in a wide range of environmental conditions, including bright sunlight. The display works by reflecting light using interfoermetric modulation (IMOD) so that specific wavelengths interfere with each other to create color. The process that makes butterfly’s wings shimmer is the same principle applied in Qualcomm’s mirasol displays. Qualcomm MEMS Technologies Inc. supports Qualcomm’s overall strategy of increasing the capabilities of mobile devices while minimizing power consumption.
Qualcomm MEMS Technologies Inc. is a wholly owned subsidiary of Qualcomm Inc. and is headquartered in San Diego, Calif., with offices in San Jose, Calif., Taoyuan, Taiwan and Hsinchu, Taiwan. For more information, please visit us on the web at: www.mirasoldisplays.com
The Ministry of Economic Affairs (MOEA), Taiwan, is in charge of formulating and implementing economic policy. Its operational scope embraces trade, industrial development, water resources, investment, energy, mining, national corporations, commercial affairs, small and medium enterprises, intellectual property, standards and measurements. In recent years, globalization, regional economic integration and rising energy and raw material prices has posed new challenges for Taiwan. To overcome these challenges, the MOEA will continue to promote an economic and trade policy rooted in innovation. The ministry also is committed to building a business-friendly environment. Regulatory loosening, long-term energy and water resource development strategies and participation in international economic and trade activities are all part of the ministry's plan to move Taiwan's economy forward.