American chipmaker Qorvo has agreed to sell its assembly and test facilities in China to contract manufacturer Luxshare Precision Industry, amid a broader supply chain revamp of the US semiconductor industry, reports Caixin.
Qorvo has reached a definitive agreement with the Chinese company Luxshare to sell operations and assets of Qorvo’s two facilities in Beijing and Dezhou, Shandong province, said the wireless connectivity chip manufacturer in a Monday statement. The sale includes the property, plant and equipment, as well as the existing workforce to allow operations to continue.
Pending regulatory approval, the transaction is expected to be completed by the first half of 2024, the US company said. Qorvo will maintain its sales, engineering and customer support employees in China. Luxshare will assemble and test products for Qorvo under a long-term supply agreement.