DURHAM, N.C. and THIEF RIVER FALLS, MINN., SEPTEMBER 17, 2008 — Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, and Digi-Key Corporation announced today that the companies have signed an agreement for the distribution of Cree's high-performance LEDs. Digi-Key, a broad-line distributor of electronic components and accessories since 1972, has been distributing Cree's energy-saving power components since 2007.
The global agreement covers the Cree LED portfolio, including the award-winning lighting-class XLamp® LEDs and the broad high-brightness portfolio, which includes round, oval, SMD and P4 LEDs. Cree LEDs are available through Digi-Key’s top-rated website and will be added to future print catalogs.
“The addition of Digi-Key widens Cree’s ability to reach growth markets for our LEDs,” said Mark Despotes, Cree vice president of global channels. “Digi-Key has the expertise and the commitment to help accelerate the adoption of LEDs — including the fast-growing lighting-class and high-brightness markets.”
“By expanding our extensive catalog of products to now include Cree LEDs, we are able to offer customers access to this industry-leading technology,” said Mark Larson, Digi-Key president and COO. “We’re seeing increasing market demand for high-quality LEDs, and the Cree LED products are a key addition to our portfolio.”
About Digi-Key Corporation
One of the world’s fastest growing distributors of electronic components, Digi-Key has earned its reputation as an industry leader through its total commitment to service and performance. As a full-service provider of both prototype/design and production quantities of electronic components, Digi-Key has been ranked #1 for Overall Performance for 17 consecutive years from among the nation’s more than 200 distributors (EE Times Distribution Study/ August 2008). Offering more than a million products from over 400 quality name-brand manufacturers, Digi-Key’s commitment to inventory is unparalleled. Access to the company’s broad product offering is available 24/7 at Digi-Key’s top-rated website, www.digikey.com.
Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting retrofit solutions, and semiconductor solutions for backlighting, wireless and power applications.
Cree’s product families include recessed LED down lights, lighting-class power LEDs, high-brightness LEDs, blue and green LED chips, power-switching devices and radio-frequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variable-speed motors, and wireless communications.
For additional product and company information, please refer to www.cree.com.
This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 29, 2008, and subsequent filings.
Steven G Tsukichi
Vice President, Strategic Operations
Chief Marketing Officer
218-681-8000, Ext 1001