Recently, Cypress Semiconductor announced a joint venture with SK Hynix System IC, a subsidiary of Sk Hynix, in Hong Kong to strengthen Cypress's technology for connectivity, computing and storage solutions in the automotive, industrial and IoT markets.

In terms of equity allocation, SK Hynix System IC has a 60% stake and Cypress has a 40% stake. In the first five years of the partnership, the joint venture will produce and sell Cypress's existing single-level cell (SLC) NAND products and will continue to invest in next-generation NAND products. In addition, Cypress will transfer a complete set of SLC NAND flash memory catalogs to joint ventures.

“This joint venture provides a path for sustained, stable long-term supply. We will continue to work on differentiation, which covers connectivity, computing and storage solutions. The target market for these solutions is the automotive, industrial and IoT market with longer design cycles,” said Hasanne El-Khoury, president and CEO of Cypress.