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Segment, Customers, and Geographic Information
 12 Months Ended
Jun. 29, 2024
Segment Reporting [Abstract]  
Segment, Customers, and Geographic Information

15. Segment, Customers, and Geographic Information

We operate in one segment: the development, marketing, and sale of semiconductor products used in electronic devices and products. In previous reporting periods, we categorized revenues from three product categories: the IoT product market, the personal computing, or PC, product market, and the Mobile product market. Effective in the first quarter of fiscal 2024, we categorize our revenues in the following product categories: Core IoT, Enterprise and Automotive, and Mobile product applications.

A summary of our products and how they are categorized under our new product categories is as follows:

•
Core IoT: Wireless and Processor Solutions
•
Enterprise and Automotive: PC Touch Pad, PC Fingerprint, Video Interface Solutions, Enterprise Audio Solutions, Fax and Printer Solutions, Automotive Solutions
•
Mobile: Touch and Display Solutions for Mobile phone applications

Revenues for the fiscal 2023 and 2022 from our previous product categories have been reclassified in order to conform to the current period presentation as follows (in millions):

 

 

 

 

 

June 2023

 

 

 

 

Core IoT

 

 

Enterprise and Automotive

 

 

Mobile

 

 

Total

 

IoT product applications

 

$

946.3

 

 

$

309.9

 

 

$

636.4

 

 

$

—

 

 

$

946.3

 

PC product applications

 

217.3

 

 

 

—

 

 

 

217.3

 

 

 

—

 

 

 

217.3

 

Mobile product applications

 

 

191.5

 

 

 

—

 

 

 

—

 

 

 

191.5

 

 

 

191.5

 

 

 

$

1,355.1

 

 

$

309.9

 

 

$

853.7

 

 

$

191.5

 

 

$

1,355.1

 

 

 

 

 

 

 

 

June 2022

 

 

 

 

Core IoT

 

 

Enterprise and Automotive

 

 

Mobile

 

 

Total

 

IoT product applications

 

$

1,100.9

 

 

$

466.7

 

 

$

634.2

 

 

$

—

 

 

$

1,100.9

 

PC product applications

 

343.0

 

 

 

—

 

 

 

343.0

 

 

 

—

 

 

 

343.0

 

Mobile product applications

 

 

295.8

 

 

 

—

 

 

 

—

 

 

 

295.8

 

 

 

295.8

 

 

 

$

1,739.7

 

 

$

466.7

 

 

$

977.2

 

 

$

295.8

 

 

$

1,739.7

 

 

Net revenue from our customers for each product category was as follows (in millions):

 

 

2024

 

 

2023

 

 

2022

 

Enterprise and Automotive product applications

 

$

570.0

 

 

$

853.7

 

 

$

977.2

 

Core IoT product applications

 

177.6

 

 

 

309.9

 

 

 

466.7

 

Mobile product applications

 

 

211.8

 

 

 

191.5

 

 

 

295.8

 

 

 

$

959.4

 

 

$

1,355.1

 

 

$

1,739.7

 

Net revenue within geographic areas based on our customers’ locations for fiscal 2024, 2023, and 2022, consisted of the following (in millions):

 

 

 

2024

 

 

2023

 

 

2022

 

China

 

$

435.0

 

 

$

485.0

 

 

$

609.1

 

Taiwan

 

 

201.3

 

 

 

367.4

 

 

 

539.4

 

Japan

 

 

192.3

 

 

 

337.7

 

 

 

453.1

 

South Korea

 

59.9

 

 

 

35.0

 

 

 

39.1

 

Other

 

 

36.0

 

 

 

62.6

 

 

 

72.1

 

Vietnam

 

 

13.6

 

 

 

61.5

 

 

 

11.8

 

United States

 

21.3

 

 

 

5.9

 

 

 

15.1

 

 

 

$

959.4

 

 

$

1,355.1

 

 

$

1,739.7

 

Long-lived assets within geographic areas as of the end of fiscal 2024 and 2023 consisted of the following (in millions):

 

 

 

2024

 

 

2023

 

North America

 

$

523.1

 

 

$

119.1

 

EMEA

 

 

499.3

 

 

 

866.4

 

Asia Pacific

 

 

204.7

 

 

 

195.8

 

 

 

$

1,227.1

 

 

$

1,181.3

 

During fiscal 2024, as a result of the intra-group transfer that domesticated certain subsidiaries, in the above table, we reclassified $350.7 million of goodwill and intangible assets from EMEA to the United States.

Major customers’ revenue as a percentage of total net revenue for fiscal 2024, 2023, and 2022 were as follows:

 

 

 

 

 

 

 

2024

 

2023

 

2022

Customer A

 

*

 

10%

 

12%

Customer B

 

*

 

*

 

13%

Customer C

 

12%

 

*

 

*

 

* Less than 10%