2019-08-21

Cree Announces Fiscal 4Q19 and 2019 Financial Results with Increasing Wolfspeed Business

Cree posted financial results of its fourth quarter of fiscal 2019 and the whole fiscal year. For fiscal 4Q19 which ends on June 30, 2019, Cree registered a revenue of US$251.2 million for its fourth quarter of fiscal 2019, down by 5% YoY and 8% QoQ. GAAP net loss from continuing operations for the fourth quarter was US$34.6 million, or US$0.33 per diluted share. On a non-GAAP basis, net income from continuing operations for the fourth quarter of fiscal 2019 was US$11.5 million, or US$0.11 per diluted share, compared to non-GAAP net income from continuing o...
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2019-08-07

Cree to Provide Its Silicon Carbide Wafers to ON Semiconductor based on Multi-Year Supply Agreement

Cree and ON Semiconductor announced the execution of a multi-year agreement where Cree will produce and supply its Wolfspeed silicon carbide wafers to ON Semiconductor. The agreement, valued at more than $85 million, provides for the supply of Cree’s advanced 150mm silicon carbide (SiC) bare and epitaxial wafers to ON Semiconductor for use in high-growth markets, such as electric vehicle and industrial applications. “ON Semiconductor continues to be a leader in driving the development of energy efficient innovations and devices,” said ON Semico...
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2019-06-13

Cree Adjusts Financial Guidance for Fiscal 4Q19 as US blacklists Huawei

Cree announced an update to its financial guidance for the fourth quarter of fiscal 2019. The company modified its revenue forecast of fiscal 4Q19 to the range of US$245 million to 252 million from prior US$263 million to 271 million as the U.S. government put Huawei on a trade blacklist. Cree said the update of financial guidance is in response to the decision on May 15, 2019, by the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce to add Huawei Technologies and 68 of its affiliates to the “Entity List” maintained by the U.S...
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2019-05-15

Cree Becomes Exclusive Silicon Carbide Partner for Volkswagen’s EV Acceleration

Cree announced that it has been selected as the exclusive silicon carbide partner for the Volkswagen Group’s “Future Automotive Supply Tracks” Initiative (FAST). The aim of FAST is to implement technical innovations more efficiently and effectively to realize global vehicle projects. As the Volkswagen Group aims to increase its electric vehicle production, the automobile manufacturer is seeking for effective network. “Our FAST partners are our strategic partners, each of them outstanding in their respective field. We want to shape the auto...
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2019-05-14

Cree Completes Sales of Its Lighting Business to Ideal Industries

Cree announced that it has closed sale of its Lighting Products business unit (Cree Lighting) to Ideal Industries. The transaction includes the LED lighting fixtures, lamps and corporate lighting solutions business for commercial, industrial and consumer applications. Cree revealed the sales agreement of its lighting business with Ideal Industries in March. After selling Cree Lighting, the LED company announced its plan to invest US$ 1 billion to expand its silicon carbide capacity to meet the growing demand for silicon carbide and GaN-on-silicon-carbide technolog...
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2019-05-08

Cree to Invest US$1 Billion to Expand Silicon Carbide Capacity

Cree announced it will invest up to US$1 billion in the expansion of its silicon carbide capacity with the development of an automated 200mm silicon carbide fabrication facility and a materials mega factory at its U.S. campus headquarters in Durham, N.C. Cree said that the decision marks the company’s largest investment to date in fueling its Wolfspeed silicon carbide and GaN on silicon carbide business. Upon completion in 2024, the facilities will substantially increase the company’s silicon carbide materials capability and wafer fabrication capacity, allowing wi...
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2019-05-02

Cree Announces Financial Report for Its Fiscal 3Q19 with Focus on Wolfspeed Business

Cree announced financial results for its third quarter of fiscal 2019, ended March 31, 2019. Revenue from continuing operations for the third quarter of fiscal 2019 was US$274 million, which represents a 22% on-year increase. GAAP net loss from continuing operations for the third quarter of fiscal 2019 was US$22 million, or US$0.22 per diluted share. On a non-GAAP basis, net income from continuing operations for the third quarter of fiscal 2019 was US$20 million, compared to non-GAAP net income from continuing operations for the third quarter of fiscal 2018 of US$17...
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2019-04-17

GE , Current Lighting Solution and Consumer Lighting File Patent Lawsuit against Cree

General Electric (GE), Current Lighting Solution and Consumer Lighting have accused Cree of using a technology on Cree’s LED product which infringes the patent of GE’s TriGain LED technology. The three companies filed a patent infringement lawsuit against Cree on April 11, 2019. (Image: Pixabay) lightED, an online magazine, posted the lawsuit document filed by GE. In the document, GE indicated that its TriGain LED technology, which is protected by U.S. Patent No 7,497,973 and No. 9,680,067, addresses solutions to improve LED col...
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2019-03-25

More Big Names Say Goodbye to LED Lighting to Focus on Higher Margin Business

Before the end of 1Q19, we learned that two more LED lighting operators are cutting off their LED lighting business. The US LED giant Cree announced the selling of its lighting business to Ideal Industries on March 15 and power company Eaton posted its plan to spin off the lighting business. Restructuring business focus to concentrate on higher margin operation has been a trend the LED industry. LEDinside pointed out that the price and profit of LED lighting products have dropped in the past years with increasing competitors joining the industry to share the...
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2019-03-18

Cree Announces the Sale of Lighting Business to Ideal Industries

Cree is selling its lighting business to Ideal Industries, an Illinois-based electric power control and management company, to continue its strategy of becoming a more focused, powerhouse semiconductor company. Cree announced the execution of a definitive agreement to sell Cree Lighting, the lighting products business unit, which includes the LED lighting fixtures, lamps and corporate lighting solutions business for commercial, industrial and consumer applications. According to Cree, the deal is about US$310 million before tax. The company expects to receive an initial cash...
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2019-02-20

Cree Introduces New LEDs with High Efficiency for Horticulture Applications

Cree announced the launch of the next-generation XLamp® XP-E2 Photo Red (660 nm) and Far Red (730 nm) LEDs that deliver breakthrough performance for horticulture applications. The new Red XP-E2 LEDs provide a drop-in upgrade for the previous generation that outperforms competing LEDs by up to 68 percent. These higher-performance horticulture LEDs increase the efficiency of LED luminaires and shorten their payback periods, making it more affordable to grow food under optimized lighting. (Image: Cree) “Lettuce and tomato farmers in the UK, th...
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2019-01-31

Cree Releases Increased Revenue for Its Fiscal 2Q19 Despite Global Trade Tension

Cree announced its financial results for the second quarter of fiscal 2019, ended December 30, 2018. Revenue for the second quarter of fiscal 2019 was US$413 million, up by 12% YoY. GAAP net loss for the second quarter of fiscal 2019 was US$2 million, or $0.02 per diluted share. This compares to a GAAP net income of $14 million, or $0.14 per diluted share, for the second quarter of fiscal 2018. On a non-GAAP basis, net income for the second quarter of fiscal 2019 was $23 million, or $0.23 per diluted share, compared to non-GAAP net loss for the second quarter of...
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2019-01-10

Cree Optimizes LED Technology to Improve Connected Lighting System

Connected LED lighting with intelligent applications has been a leading trend in the lighting industry. In order to enhance the connected system, global leading LED provider Cree has developed an advanced LED portfolio to fulfill the requirement of connected lighting. LEDinside was pleased to share some insights from Paul Scheidt, Product Marketing Manager at Cree. Paul Scheidt talked about how the connected system might influence the performance of LEDs and how Cree optimizes its LED product lines to tackle the issues. (Image: Cree) Scheidt pointed ...
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2019-01-08

STMicroelectronics Teams up Cree for Silicon Carbide Wafer Supply

Cree announces that it signed a multi-year agreement to produce and supply its Wolfspeed® silicon carbide (SiC) wafers to STMicroelectronics. Based on the agreement, Cree will supply its 150mm silicon carbide bare and epitaxial wafers which valued US$ 250 million to STMicroelectronics. “ST is the only semiconductor company with automotive-grade silicon carbide in mass production today, and we want to press forward to grow our SiC business both in terms of volume and breadth of applications served, targeting leadership in a market estimated at more than US$3...
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2018-12-28

2018 Year-End Industry Review: Things You Can’t Miss About the Big Names

There have been ups and downs in the LED industry in 2018. New technologies have continued to evolve while many leading industry players have made critical decisions to cut off old business. LEDinside has selected some significant updates of the influential companies in the industry to wrap up the year. Philips Lighting becomes Signify As one of the most famous lighting brands in the world, Philips Lighting officially changed its name to Signify in 2018. The company announced the name change plan as a gesture to transform the company. It has started to use the new na...
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2018-12-18

Cree Changes Head of Its LED Business Unit

The U.S.-based LED giant Cree has adjusted its management team. After the new CFO and chairman were appointed and the new members of the board of directors were elected in the six months, the head of the LED division has stepped down, reported Triangle Business Journal. The executive vice president and general manager of Cree’s LED business unit, David Emerson, has left the position. Claude Demby, formerly senior vice president of strategy and corporate development, took over the duty. (Image: Cree) The company has been through a shuffle in the sen...
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2018-11-29

Cree Releases New Lighting System FLEX Series LED Troffer

Cree introduced a new lighting system which enables limitless lighting design for architects and lighting specialists. According to Cree, its FLEX Series LED Troffer offers an opportunity to LED replacement as recessed fluorescent troffers comprise 50 percent of all luminaires used in the U.S. commercial market, according to the Department of Energy. The FLEX Series LED Specification troffer, featured with its slim luminaire style, offers design flexibility to fits different ceiling type. With five customizable inner-optic choices, architects and designers ...
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2018-10-25

Cree Announces New Chairman

Cree has announced the results of its annual shareholders meeting including the appointment of a new chairman and two newly elected members to the board of directors.
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2018-10-17

Cree Announces Quarterly Financial Results and Supplies Its Wolfspeed Wafers to a Semiconductor Company

Cree has announced its financial results for the first quarter of fiscal 2019 and unveiled that the company will supply its Wolfspeed silicon carbide wafers to one of the world leading power device companies.
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2018-10-05

Products Releases: New Linear Fixtures from Cree and Low Glare Luminaires of LEDVANCE

Cree continues to expand its industrial lighting portfolio and has announced the launch of its new LXB Series Linear High-Bay luminaires. LEDVANCE, on the other hand, has debuted a low glare luminaires for replacing conventional fluorescent lighting. 
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2018-09-27

Cree Introduces New COB LEDs with Highest CRI in the Industry

Cree has released the XLamp® eTone™ LEDs, a new set of chip-on-board (COB) LEDs that delivers 90 color rendering index (CRI) light quality with the same efficacy as the standard 80 CRI LEDs.
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2018-09-10

The Deficit of LED Lighting Pushes International Brands to Cut off Their Lighting Business

The market scale of LED lighting has continued to grow with the driving forces from the emerging market and the transition of traditional lighting to LED lighting. The expanding market has attracted many companies to join, leading to escalating competition and sliding profit. Many LED companies have thus decided to quit their lighting business or to reorganize their strategies. 
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2018-08-23

New LED Products Release: Cree Debuts Packaged LED for IoT Applications and Tridonic Introduces New Generation LED Modules

Cree has launched XLamp XP-G3 LED S Line, an optimized version of its series for the applications of connected lighting. On the other hand, Tridonic has released its fifth generation 5 LLE module featuring high efficacy.
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2018-08-21

Cree Offers US$500 Million Convertible Senior Notes

Cree announced that the company intends to offer US$500 million aggregate principal amount of its Convertible Senior Notes due 2023 in a private offering to qualified institutional buyers. In addition, the initial purchasers of the Notes will be granted by Cree an option to purchase up to an additional US$75 million aggregate principal amount of the Notes, for settlement within a 13-day period from, and including, the date on which the Notes are first issued.
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2018-08-15

Cree Announces Financial Results for Its Fiscal Year 2018

Cree has reported a revenue of US$409 million for its fourth quarter of fiscal 2018, ended June 24, 2018 with an increase of 14% YoY and 15% QoQ. The revenue for the whole fiscal year was US$ 1.49 billion, which represents a 1% increase YoY. 
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2018-07-26

The Reactions of LED Companies on Tariff

The tariff imposed on Chinese imported products to the U.S. was effective since July 6th. Previously the U.S. government has announced that the U.S. will enforce 25 percent tariffs on 818 Chinese goods which are in total worth about US$34 billion. And on July 10th, the Trump administration proposed additional tariffs on US$200 billion worth of Chinese goods.
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2018-07-24

Cree Appoints Neill Reynolds as New CFO

Cree has reported the assignment of the company’s new CFO, Neill Reynold. The appointment will be effective on August 27th 2018. Reynolds will succeed Mike McDevitt at that time, per the transition plan announced in June.
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2018-05-10

Cree Brings Highest Reliability to Broadest Family of Metal COB LED Designs

Cree announces an expansion of the XLamp High Current LED Array family with new CMT LEDs that extend Cree’s latest metal-based chip-on-board (COB) LED technology to the most prevalent COB form factors.
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2018-05-07

Cree Expands SmartCast Intelligence Platform

As buildings become increasingly more connected through the Internet of Things (IoT), owners and operators require an intuitive platform for their building intelligence solutions. To meet this need, Cree is expanding its SmartCast Intelligence Platform™ to include connected wireless capabilities that enable smart building solutions, such as building automation and control network (BACnet) connectivity, advanced lighting control, and building analytics.
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2018-04-28

Cree Reports Financial Results for the Third Quarter of Fiscal Year 2018

Cree, Inc. on April 25 announced financial results for its third quarter of fiscal 2018, ended March 25, 2018.
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Natural colour rendering of Optisolis™ LEDs lets visitors experience artwork as the artist intended without degrading the work. Tokushima, Japan – 23 July 2019: Nichia Corporation, the leader in high brightness LED technologies, an... READ MORE

TSLC Corporation, a subsidiary of SemiLEDs, launched sampling of its tri-color Mini LED series, targeted to provide LED display manufacturers with surface-mounting (SMT) compatible devices. The first product in the tri-color multi pixel series... READ MORE