Cree’s LED business (formerly part of Wolfspeed) doing just fine, new owner reports

Cree’s LED business (formerly part of Wolfspeed) doing just fine, new owner reports


RESEARCH TRIANGLE PARK – The LED chip business Wolfspeed sold in 2020 is doing quite well, according to its owners SGH.

The California-based company reported sales of nearly $112 million for the quarter ending Nov. 26, reports LEDs Magazine.

“Revenue growth was driven by customer wins with our high-brightness products into the video, architectural, and landscape specialty lighting markets,” CEO Mark Adams told analysts. He noted that LED revenue was “in line with our expectations.”

Durham-based Wolfspeed – then known as Cree – sold off its two LED-focused business groups in order to concentrate on semiconductors and related power technologies. The other group focused on LED bulbs and lighting.

Read the full report online.





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Kassie Hoffman
Kassie pens down all the news from the world of politics on ANH.