Hod Hasharon Israel, September 17, 2024 SAN FRANCISCO, Oct. 13, 2020 /PRNewswire/ — Valens Semiconductor (NYSE: VLN), a leader in high-performance connectivity, today announced that its VA7000 MIPI A-PHY chipset has won three automotive design wins from leading European OEMs. This achievement validates Valens’ position as a leading supplier of ADAS connectivity solutions and the status of MIPI A-PHY as the industry standard for next-generation sensor connectivity.
Each OEM within the automotive brand group plans to incorporate Valens’ MIPI A-PHY chipsets into select vehicle models at Start of Production (SoP) in 2026, with estimated production volumes of approximately 500,000 units per year. Once commercialized, Valens expects design orders to drive sales of more than 1 million units per year. $10 million Increased annual earnings over a 5-7 year period. (1)
The selection of the Valens chipset came after extensive testing of various connectivity solutions on the market, with Valens’ A-PHY solution found to be superior across a range of parameters. As a key contributor to the MIPI A-PHY standard, Valens provides the automotive industry with a future-proof sensor connectivity solution supporting industry-leading bandwidth and link distance with excellent immunity to electromagnetic noise.
Valens achieved these design wins in collaboration with leading automotive Tier-1 companies on both the camera and system-on-chip (SoC) sides. Both companies are now offering native A-PHY support on their platforms. These partnerships may lead to further opportunities for Valens’ A-PHY chipsets, and the two companies will continue to collaborate on broader OEM outreach.
“As a former CTO and executive at a major automotive OEM, I can attest that the industry has been waiting for a secure, resilient, high-performance connectivity standard,” said Dr. Peter Mertens“This is exactly what Valens has brought to the industry,” said the chairman of the board of directors of Valens Semiconductor. Predict This OEM validation will encourage further adoption of this important connectivity technology.”
“We are honored to be selected by such a major OEM, a clear recognition of the superiority of Valens’ technology,” said Valens. Gideon Ben Zvi“We knew investing in the automotive industry would take time, but we are excited to see our long-term strategy paying off,” said Valens, CEO of Valens Semiconductor. “I’m proud of the Valens team for their tireless work over the years to make our vision for automotive connectivity standards a reality.”
“This is a huge win not just for Valens but for the entire automotive industry.” Gideon Kedem“These design wins solidify A-PHY’s position as the foundational standard for more advanced ADAS and autonomous driving,” said Mike SK, head of Valens Semiconductor’s automotive business. “We believe these wins will drive further adoption of A-PHY across the industry and that as a leading supplier of A-PHY chipsets, Valens is perfectly positioned to gain additional market share.”
Conference Call Information
Gideon Ben ZviValence Semiconductor’s CEO and Chief Financial Officer Guy Nathanison will host a conference call and webcast today. 10am ET A conference call will be held to discuss the details of today’s announcement and answer questions. The conference call can be reached by calling 1-888-281-1167 (US), 0-808-101-2717 (UK), or 03-9180610 (IsraelThe webcast will be available on our website under the News & Events section, and a replay of the webcast will be available on our website immediately following the conference call.
(1)
Projected revenues represent our expectations based on projections of future production volumes provided by our current and future OEMs at the time they procure design wins for the models related to those design wins. Statements regarding the timing of design wins are only estimates and are subject to change based on, among other things, the actual production volumes of the vehicles involved. See the disclaimer below under the heading “Forward-Looking Statements” for important limitations that apply to these estimates.
About Valence Semiconductor
Valens Semiconductor (NYSE: VLN) is a leader in high-performance connectivity, helping customers transform digital experiences for people around the world. Valens chipsets are integrated into countless devices for leading customers, enabling cutting-edge audio-video installations, next-generation video conferencing, and the evolution of ADAS and autonomous driving. Pushing the boundaries of connectivity, Valens sets standards everywhere we operate, and our technology is the foundation of industry-leading standards such as HDBaseT® and MIPI A-PHY. For more information, visit https://www.valens.com/.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimates,” “plans,” “projects,” “projects,” “intends,” “will,” “expects,” “anticipates,” “believes,” “seeks,” “goals,” or other similar expressions that predict or indicate future events or trends or that are not statements of historical fact. These forward-looking statements include, but are not limited to, statements regarding the Company’s expected future results, including financial results, currency exchange rates, contract or design awards, and future economic and market conditions. These statements are based on various assumptions and the current expectations of Valens Semiconductor’s (“Valens”) management, whether or not identified in this press release, and are not intended to predict actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as a guarantee, commitment, prediction, or definitive statement of fact or probability and should not be relied upon as such by any investor. Actual events or circumstances can be difficult or impossible to predict and may differ from assumptions. Many actual events and circumstances are beyond Valens Semiconductor’s control. These forward-looking statements are subject to a number of risks and uncertainties, including the cyclicality of the semiconductor industry, the impact of an inflationary and rising interest rate environment on our customers and the industry, our customers’ ability to absorb inventory, the impact of the COVID-19 global pandemic on our customers’ budgets and overall economic conditions as well as the length, severity and pace of any recovery following the pandemic, competition in the semiconductor industry, our inability to timely introduce new technologies or products to compete successfully against our competitors, Valens’ inability to adjust supply chain volumes due to changing market conditions or to forecast customer demand, disruptions to relationships with Valens’ key customers, and other factors. difficulties selling Valens’ products if customers do not incorporate Valens’ products into their product lineups; even if Valens wins a selection process, it may not be able to generate sufficient net sales or profits from those wins in a timely manner; potential production volumes related to design wins, ongoing yield issues or other delays in the manufacturing process for its products; our ability to effectively manage, invest in, grow and retain our sales force, research and development capabilities, marketing team and other key personnel; our ability to timely adjust product prices to customers following price increases due to the supply chain; our ability to adjust inventory levels in response to reduced demand due to accumulated inventory buffers by customers; our expectations regarding the outcome of future litigation in which we are named; our ability to adequately protect and defend our intellectual property and other proprietary rights; the market price and trading volume of Valens common stock may be volatile and may decline significantly; and political, economic, governmental and tax effects related to our incorporation and location. Israeland factors discussed in Valens’ Form 20-F filed with the SEC: February 28, 2024 Forward-looking statements are contained under the heading “Risk Factors” and in other documents Valens has filed or will file with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those implied by these forward-looking statements. There may be additional risks not currently known to Valens or that Valens currently believes to be immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Furthermore, forward-looking statements reflect Valens’ expectations, plans or projections of future events and views as of the date of this press release. Valens expects that subsequent events or developments may cause Valens’ assessments to change. However, although Valens may elect to update these forward-looking statements at some point in the future, Valens expressly disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Valens’ assessments as of any date subsequent to the date of this press release. Therefore, undue reliance should not be placed on forward-looking statements.
The estimates contained herein are based on forecasts of future production volumes provided by our current and future OEMs at the time they procured design wins for the models related to those design wins. For purposes of these estimates, we have estimated sales prices based on our management’s estimates for the applicable product bundles and time periods. The achievement of a design win is not a guarantee of revenues, and our sales may not correlate with the achievement of additional design wins. In addition, our price estimates may be affected by market conditions, and if market or other conditions deteriorate between the time of this estimate and the order for our solution, we may have to sell our solution at a lower price than originally anticipated. Accordingly, our design win revenue estimates could be materially incorrect based on actual production volumes and sales prices (which may be higher or lower than our estimates), and the amounts included in the forecast revenues may never be achieved. You should not place undue reliance on these forward-looking statements or projections, as these estimates are subject to and involve risks, uncertainties and assumptions.
Press Contact
Yoni Dayan
Communications Director
Valence Semiconductor Co., Ltd.
(email address protected)
Pat Breck
Senior Vice President
Financial Profiles Inc.
(email address protected)
Investor Contacts
Michal Ben Ali
Investor Relations Manager
Valence Semiconductor
(email address protected)
Lisa Fortuna
Senior Vice President
Financial Profiles Inc.
(email address protected)
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SOURCE Valens Semiconductor
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