December 20, 2023 /SemiMedia/ -- Wireless connection chip maker Qorvo said recently that it has reached a final agreement to sell its assembly and test facilities in Beijing and Dezhou, China, to contract manufacturer Luxshare Precision Industries.
Qorvo said that after the transaction is completed, Luxshare Precision will acquire the operations and assets of each factory, including real estate, plant and equipment, and existing employees, while Qorvo will continue to retain its sales, engineering and customer support employees in China.
Qorvo said Luxshare Precision will assemble and test products for Qorvo under the newly signed long-term supply agreement.
The company said the Beijing and Dezhou factories primarily support Qorvo's integrated advanced cellular products.
Financial terms of the deal were not disclosed and are expected to close in the first half of 2024.
