NURNBERG, GERMANY, AND SEOUL, KOREA (July 27, 2007) - Seoul Semiconductor (KOSDAQ: 046890), one of the world largest LED producers, today announced that it has signed European and Asian distribution agreements with Avnet Electronics Marketing, a division of Avnet, Inc. (NYSE:AVT), to expand and reinforce its sales network. The agreements followed an announcement the companies made in January for Avnet to distribute Seoul Semiconductors products in the North American market.
The North American agreement ensured Seoul Semiconductor clients enjoy a higher level of service such as solution-centered support, and quicker delivery by maintaining inventory of its offerings. The recent agreements in Asia and Europe are expected to provide these benefits and more. Avnets professionals will not only be supplying LED products but will also be providing crucial technical support services necessary to apply Seoul Semiconductors technology to customers actual applications. Ultimately this will save customers time and money, and enhance Seoul Semiconductors competitiveness.
Seoul Semiconductor is a leading innovator of high-brightness and energy-efficient LEDs. It recently introduced a number of highly innovative LED technologies, among them Acriche, the worlds only semiconductor light source capable of running directly from household AC power without the need for additional converters. Furthermore, the companys brightest single-die white LED emitting 100 lumens per watt is predestined to replace conventional lighting sources such as fluorescent or incandescent lamps. These technical advances have enabled Seoul Semiconductors LED technology to penetrate key illumination markets.
These agreements provide us with a significant opportunity to accelerate the sales of our LEDs in the European and Asian markets, Yang-hee Han, vice president and general managing director for Sales and Marketing. As the worlds largest distributor of electronic components, Avnet has an enormous sales network and professional sales know-how through its long experience. The recent series of agreements with Avnet is a competitive advantage, added Han.
Miguel Fernandez, president of Silica, a division of Avnet Electronics Marketing EMEA, said: Seoul Semiconductors broad range of advanced LED technology will revolutionize many segments of the lighting industry and is therefore a valuable addition to our existing portfolio.”
“We are pleased to collaborate with Seoul Semiconductor and penetrate the Asia market with innovative LED technology,” said Stephen Wong, president, Avnet Electronics Marketing Asia. “Seoul Semiconductors customers in Asia will experience a high standard of sales and support services, including access to Avnet premier team of engineers and technology specialists who are experienced in solid-state lighting, thermal management, power driver stage and secondary optics.
Avnet, Inc. (NYSE:AVT) is the worlds largest distributors of electronic components, computer products and technology services and solutions with more than 250 locations serving 70 countries. The company markets, distributes and optimizes the supply-chain and provides design-chain services for the products of the worlds leading electronic component suppliers, enterprise computer manufacturers and embedded subsystem providers. Avnet brings a breadth and depth of capabilities, such as maximizing inventory efficiency, managing logistics, assembling products and providing engineering design assistance for its 100,000 customers, accelerating their growth through cost-effective, value-added services and solutions. For the fiscal year ended July 1, 2006, Avnet generated revenue of $14.25 billion. For more information, visit www.avnet.com