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Segment, Customers, and Geographic Information
 9 Months Ended
Mar. 30, 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 three months ended March 2023 from our previous product categories have been reclassified in order to conform to the current period presentation as follows (in millions):

 

 

 

 

Core IoT

 

 

Enterprise and Automotive

 

 

Mobile

 

 

Total

 

IoT product applications

 

$

231.7

 

 

$

93.3

 

 

$

138.4

 

 

$

—

 

 

$

231.7

 

PC product applications

 

53.3

 

 

 

—

 

 

 

53.3

 

 

 

—

 

 

 

53.3

 

Mobile product applications

 

 

41.6

 

 

 

—

 

 

 

—

 

 

 

41.6

 

 

 

41.6

 

 

 

$

326.6

 

 

$

93.3

 

 

$

191.7

 

 

$

41.6

 

 

$

326.6

 

Revenues for the nine months ended March 2023 from our previous product categories have been reclassified in order to conform to the current period presentation as follows (in millions):

 

 

 

 

Core IoT

 

 

Enterprise and Automotive

 

 

Mobile

 

 

Total

 

IoT product applications

 

$

813.7

 

 

$

276.5

 

 

$

537.2

 

 

$

—

 

 

$

813.7

 

PC product applications

 

175.0

 

 

 

—

 

 

 

175.0

 

 

 

—

 

 

 

175.0

 

Mobile product applications

 

 

139.1

 

 

 

—

 

 

 

—

 

 

 

139.1

 

 

 

139.1

 

 

 

$

1,127.8

 

 

$

276.5

 

 

$

712.2

 

 

$

139.1

 

 

$

1,127.8

 

 

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

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

March

 

 

March

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Enterprise and Automotive product applications

 

$

134.7

 

 

$

191.7

 

 

$

426.1

 

 

$

712.2

 

Core IoT product applications

 

47.3

 

 

 

93.3

 

 

 

123.3

 

 

 

276.5

 

Mobile product applications

 

 

55.3

 

 

 

41.6

 

 

 

162.6

 

 

 

139.1

 

 

 

$

237.3

 

 

$

326.6

 

 

$

712.0

 

 

$

1,127.8

 

 

Net revenue within geographic areas based on our customers’ locations for the periods presented was as follows (in millions):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

March

 

 

March

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

China/Hong Kong

 

$

102.2

 

 

$

152.7

 

 

$

314.6

 

 

$

398.9

 

Taiwan

 

 

54.7

 

 

 

68.8

 

 

 

141.1

 

 

 

334.7

 

Japan

 

 

47.7

 

 

 

69.0

 

 

 

157.2

 

 

 

266.1

 

South Korea

 

16.0

 

 

 

6.2

 

 

 

42.7

 

 

 

23.3

 

Other

 

 

14.2

 

 

 

29.7

 

 

 

36.2

 

 

 

98.6

 

United States

 

2.5

 

 

 

0.2

 

 

 

20.2

 

 

 

6.2

 

 

 

$

237.3

 

 

$

326.6

 

 

$

712.0

 

 

$

1,127.8

 

Net revenue from major customers as a percentage of total net revenue for the periods presented was as follows:

 

 

Three Months Ended

 

Nine Months Ended

 

 

March

 

March

 

 

2024

 

2023

 

2024

 

2023

Customer A

 

*

 

*

 

*

 

10%

Customer B

 

12%

 

*

 

*

 

*

Customer C

 

*

 

*

 

13%

 

*

Customer D

 

*

 

18%

 

*

 

*

____________________

* Less than 10%

 

We extend credit based on evaluation of a customer’s financial condition, and we generally do not require collateral. Major customer accounts receivable as a percentage of total accounts receivable were as follows:

 

 

 

March

 

June

 

 

2024

 

2023

 

 

 

 

 

Customer A

11%

 

10%

Customer B

 

*

 

20%

Customer C

 

14%

 

*

Customer D

 

10%

 

*

____________________

* Less than 10%