RF Semi Splits Off LED Division as 'RFLED' to Strengthen Secondary Battery and Semiconductor Businesses

RF Semi announced on the 10th that it will hold an extraordinary general meeting on the 19th of next month to spin off its LED (light-emitting diode) lighting business division into a separate corporation.

The spun-off LED lighting business will be managed by the newly established company 'RFLED,' which will be 100% owned by RF Semi, a non-listed corporation. This move is expected to allow RF Semi to focus more on its existing semiconductor business and the new secondary battery business it is pursuing.

A company representative stated, "There is no significant synergy between the semiconductor and LED business divisions, and we proceeded with this physical spin-off to concentrate on new businesses," adding, "We will strive to maximize the strengths of each corporation to reflect them in corporate value."

They continued, "After the change of the largest shareholder, we are considering various business and policy measures to enhance shareholder value," emphasizing, "We are also reviewing various options, including the physical spin-off of RFLED, to stabilize the financial structure and improve management efficiency."

RF Semi's largest shareholder changed to Jinpyeong Electronics in June. Since then, the company has entered the LFP (lithium iron phosphate) battery business based on its semiconductor device business. In July, its affiliate, Sansiran Wanjinpyeong manufacturing corporation, began full-scale supply of LFP batteries as a secondary battery production base to RF Semi.

This content was produced with the assistance of AI translation services.