Our strategy
IQE’s strategy is focused on maintaining share in existing markets while diversifying into new growth areas. By collaborating with technology leaders we will achieve sustainable growth in order to capture value.
Progress on strategy
Maintain and grow IQE’s position
| Connect |
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Description | IQE has a well-established, market-leading product portfolio for Connect applications GaAs-based HBT, BiFET, BiHEMT, and PHEMT epiwafers for mobile handset front-end modules GaN/SiC and GaN/Si RF epiwafers for base station applications GaAs and InP-based lasers and detector epiwafers for data/telecom transceivers
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2024 progress | - Retain market share for commoditised handset parts
- Grow front-end module market share within Asian supply chains
- Develop GaN/Si & SiC for RF infrastructure
- Develop GaAs-based quantum dot (QD) technology for data com lasers
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Progress in 2024 | - Strong qualification and sampling engagement with Asian front-end module customers
- Continued partnership with a leading US-based foundry on the development of GaN on Si for RF applications
- Good execution on production orders for GaN on SiC RF products
- Strong engagement with InP-based datacom partners to service the resurging market and develop next-generation technology
- Release of a quantum dot reference technology and secured contract revenue
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| Sense |
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Description | IQE is a long-standing leader for two critical sense applications: |
2024 progress | - Retain market share for released 3D Sensing products
- Maximise revenue capture for GaSb-products through operational excellence and execution against a strong order book
- Grow GaSb market share by developing and qualifying next-generation products
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Progress in 2024 | - Successfully serviced and retained GaAs VCSEL customers
- Excellent operational performance for MBE-based GaSb products underpinning significant year-on-year revenue growth
- Good progress and strong customer engagement on GaSb development for next-generation designs
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Diversify
| Power |
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Description | IQE is creating capability and capacity to serve the power market for automotive and industrial applications with significant market growth anticipated due to global Net Zero initiatives. |
2024 focus | - Install and run-up additional GaN capacity at sites in both the US and UK to create a secure, global GaN footprint
- Develop a market-leading 200 mm 650 V e/d mode capability
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Progress in 2024 | - Successfully installed and ran-up two new reactors at the Newport site
- Completed the internal qualification of two new reactors at the Massachusetts site and began servicing customer orders
- Significant progress made on GaN power product development; demonstrated 650 V breakdown with excellent wafer flatness and defectivity
- Sampled multiple power customers to qualify for 650 V applications
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| Display |
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Description | Small form factor, ultra-high resolution, highly efficient displays for AR/VR applications and wearable/mobile devices will ultimately require the use of red, green, and blue (RGB) microLEDs. IQE is developing leading edge technology to intersect with this significant market opportunity. Green and blue technology development leverages IQE’s established GaN on Si expertise. For red, IQE has a dual path, developing a GaAs/Ge-based technology for initial adoption and GaN on Si for subsequent generations. |
2024 focus | - Develop baseline blue and green GaN on Si technology
- Demonstrate GaAs/Ge-based red technology
- Capture development revenue through close partnership with market leaders
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Progress in 2024 | - Rapidly developed a baseline blue and green GaN on Si capability that has resulted in strong Tier 1 customer engagements
- Demonstrated a viable red technology on GaAs resulting in requests for qualification samples by multiple customers and partners
- Captured customer NRE revenue to offset internal development costs
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*Report on strategic progress as detailed in our Annual Report and Accounts 2024.
