Cree Announces Blue Laser Diode Lifetime Achievements Company to Commence Marketing Efforts
Durham, NC. Cree, Inc., (Nasdaq: CREE) today announced that it has achieved blue laser diode lifetimes in excess of 1,000 hours in the 400 nanometer range. The company has also increased the efficiency of its blue laser diode through improvements in threshold operating characteristics. These results are a significant step toward substantiating the viability of optical storage capabilities for commercial applications and supporting the company s marketing launch for Cree s laser diode. The company targets beginning customer sampling by the end of this calendar year.
Due to the shorter wavelength of blue light as compared to longer wavelength red or infrared lasers used today, blue and ultraviolet (UV) lasers could benefit optical storage systems such as high-end mass storage optical recording systems and DVDs by increasing the storage capacity four or five times.
According to market research firm Strategies Unlimited, the blue laser diode market for optical storage is anticipated to grow to over a $2 billion market within five years, with a significant portion targeting DVD applications.
Chuck Swoboda, President and CEO stated, This announcement signifies a new era in blue laser technology. We believe silicon carbide s natural cleave plane and structure will render our device to be the preferred choice among packagers and system suppliers. We are positioning the company with a view to capturing a significant share of this market.
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 expertise 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 in developing or be unable to develop commercially viable blue laser diodes; the potential lack of customer acceptance even if such products are developed; the risk we will be unable to manufacture such products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the rapid development of new technologies that could lead to competing products or otherwise reduce the expected demand for blue laser diodes; the risk of litigation asserting intellectual property claims; and other factors discussed in our filings with the Securities and Exchange Commission, including our report on Form 10-K for the year ended June 24, 2001.
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
