IQE Regulatory News (IQE)

IQE plc

Wireless Qualification Update

Cardiff, UK. 23rd July 2019: IQE plc (AIM: IQE; "IQE"), the leading global supplier of advanced wafer products to the semiconductor industry, announces the successful qualification, commencement of initial production and receipt of additional orders of wireless products for Asian supply chains.

As previously communicated, because of the current trade situation between the US and China, supply chains are being redeveloped across the globe. This has had an impact on sales volumes for IQE's products, as global customers adjust to these new supply chain situations and IQE becomes qualified in these new supply chains.

However, IQE remains well placed to support these changes because of its diverse global footprint, with manufacturing plants in the US, Europe and importantly in Asia (Taiwan and Singapore), and its powerful portfolio of wireless products

IQE has now qualified with a major customer in Asia for new Asia-centric supply chains for Heterojunction Bipolar Transistors (HBTs). These are used as Power Amplifiers (PAs) in mobile handsets, wifi hotspots and other wireless devices. Initial production for this customer has now commenced and additional qualification of significantly higher production capacity is underway from the newly installed capacity at IQE's facility in Hsinchu, Taiwan.

In addition, significant additional orders have been received by IQE from a second Asian customer, specifically addressing increased demand from Asian OEMs.

Finally, IQE's Singapore operation has also completed qualification of a new Asian customer for Pseudomorphic High Electron Mobility Transistors (pHEMTs). These are also used in wireless devices and networks and IQE has already received initial orders for production.

Dr Wayne Johnson, Executive VP, Global Business Development, Wireless and Emerging Products commented:

"These new qualifications for Asian supply chains reflect the strength of IQE's global manufacturing footprint, our leading product portfolio and our ability to quickly respond to the rapidly changing supply chain dynamics.

"We look forward to significantly increasing both the volume and breadth of products we are able to provide to these new Asia-centric supply chains, including products under currently development such as filters and high-performance switches"

CONTACTS:

IQE plc

+44 (0) 29 2083 9400

Tim Pullen

Drew Nelson

Wayne Johnson

Peel Hunt LLP (Nomad and Joint Broker)

+44 (0) 20 7418 8900

Edward Knight

Nick Prowting

Citigroup Global Markets Limited (Joint Broker)

+44 (0) 20 7986 4000

Christopher Wren

Peter Catterall

Headland Consultancy + 44 (0) 20 38054822

Andy Rivett-CarnacChloe Francklin

ABOUT IQE

http://iqep.comIQE is the leading global supplier of advanced semiconductor wafers that enable a diverse range of applications. IQE uses advanced crystal growth technology (epitaxy) to manufacture and supply bespoke semiconductor wafers 'epi-wafers' to the major chip manufacturing companies, who then use these wafers to make the chips.

IQE's products are found in many leading-edge consumer, communication, computing and industrial applications, including a complete range of wafer products for the wireless industry, such as smartphones and wireless infrastructure, Wi-Fi, base stations, and satellite communications; optical communications, optical storage, printing, thermal imagers, leading-edge medical technologies, automotive and aerospace technologies, a variety of advanced silicon based systems and high efficiency concentrator photovoltaic (CPV) solar cells.IQE is headquartered in Cardiff UK and operates manufacturing and R&D facilities worldwide.