Nordic Semiconductor ASA provides a mid-quarter update.
Highlights of the first two months of Q3 2016 is:
- Revenue in line with guiding provided during
Q2 2016 presentation
- nRF52 yield issue resolved, normal yield level
expected during Q4 2016
- Strengthened strategic position in wearables with
Tier 1 design win in China
The guiding for 2H 2016 offered during the Q2 2016
presentation was revenue in the range of MUSD 105-120.
Based on the latest forecasts, Nordic maintains the
guidance provided in the Q2 2016 presentation.
Bluetooth Smart growth will, as previously
communicated, continue to be muted in 2nd half due to
loss in 2015 of two major customers/designs.
However, with continued strong design win momentum
across a wide range of market verticals, we see
underlying Bluetooth Smart revenue growth to
compensate for these socket losses in 2nd half 2016.
The yield issue with nRF52, as reported in Q2 2016, is
now resolved. The fix is currently being phased into
our production flow and we expect to reach normal
yield level during Q4 2016. We are continuing our
commitment to meet our customers growing volume demand
for nRF52, therefore it is expected that the issue
will have a negative impact on gross margin also for
Q3 2016.
Nordic has for several years held a strong position
with small and medium-sized customers in the Chinese
wearable market. During Q3 2016 Nordic has
strengthened its position with a Tier 1 design win.
This nRF52 design win is our first with a Chinese Tier
1 wearable company and is of key strategic value for
our future ability to compete in this growing and
highly competitive market. Volume potential for the
design win is expected to be moderate with deliveries
to commence during Q4 2016.
For further information, please contact:
Thomas Bonnerud, Head of IR. +4795100257
Pål Elstad, CFO. +4799166293
About Nordic Semiconductor ASA
Nordic Semiconductor is a fabless semiconductor
company which designs, sells and delivers integrated
circuits and related intellectual property for use in
short-range wireless applications. The Company
specializes in ultra-low power wireless solutions,
based on its proprietary 2.4GHz RF and Bluetooth Smart
technologies. Nordic Semiconductor is a pioneer and
market leader in ultra-low power wireless technology,
with close to 300 million units sold in 2015.