Cree Unveils X-Bright(tm) LED Technology
Highest Reported Brightness Levels - Sets New Benchmark for Brightness
Durham, NC. Cree, Inc., (Nasdaq: CREE) today unveiled a remarkably new and innovative next generation light emitting diode (LED) X-Bright™ technology. The X-Bright family of LEDs is being designed to offer increased brightness by approximately 50 percent over the MegaBright™ family of LEDs. Target applications for the X-Bright devices include solid state illumination, cellphones, automotive, traffic signals, and video screens.
The X-Bright LED technology the company has pioneered incorporates a revolutionary chip design and utilizes the optical benefits of silicon carbide (SiC) while maintaining the vertical structure advantages of a single top contact. This allows for a standard size chip similar to Cree s other SiC/GaN-based devices. The first blue and ultraviolet (UV) LEDs incorporating the X-Bright technology are expected to be available for customer sampling during the second quarter of fiscal year 2002 with production availability anticipated in the third quarter. The company plans to offer the X-Bright family of LEDs to customers at price points competitive with its MegaBright LEDs.
Chuck Swoboda, Cree s President and CEO said, "Cree has led the way in developing this break through technology and converting it into a product that we believe is unquestionably the brightest nitride-based LED commercially available in the market. With this technology, we believe Cree has significantly raised the bar in nitride LED performance. We will continue our R&D efforts on increasing brightness while maintaining price/performance levels to support the inauguration of new solid state illumination applications as well as secure previously inaccessible market opportunities."
North Carolina-based Cree, Inc. develops and manufactures semiconductor materials and devices based on silicon carbide (SiC), gallium nitride (GaN) and related compounds. The company s products include blue, green and UV LEDs, RF power transistors for use in wireless infrastructure applications, Schottky diodes for power conditioning and switching, SiC crystals used in the production of unique gemstones and SiC wafers sold for use in production and in research and development. Cree has new product initiatives based on its experience in SiC and GaN-based semiconductors, including blue laser diodes for optical storage applications, high frequency microwave devices for radar and communications systems. For more information on Cree, visit http://www.cree.com.
This press release contains forward-looking statements involving risks and uncertainties that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of the new products; the risk the company will be unable to manufacture the products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the rapid development of new technology and competing products that may impair demand; the risk of litigation asserting intellectual property claims; and the potential lack of customer acceptance of the products; as well as other factors discussed in Cree s report on Form 10-K for the year ended June 24,2001 filed with the Securities and Exchange Commission.
Cree and the Cree logo, X-Bright and MegaBright are trademarks or registered trademarks of Cree, Inc.
Contact: Fran Barsky, Investor Relations Manager Cree, Inc. Tel: 919 313 5397 Fax: 919 313 5452
Fran Barsky, Investor Relations Manager Cree, Inc.Tel: 919 313 5397
Fax: 919 313 5452
Web site: http://www.cree.com
