1/8/2004 - M-Systems (Nasdaq: FLSH) and Samsung Electronics Co., Ltd. (KSE: 05930) announced that they have entered into a cooperation agreement.
Under the agreement, M-Systems has granted a license to its patents to Samsung for licensing fees and a certain allocation of NAND flash memory at favorable terms.
"In order to satisfy the growing demand for our products, we needed a stable supply of NAND flash memory. We are pleased to enter into this agreement with Samsung, which secures for M-Systems a NAND supply at favorable terms, even at a time of industry shortage. This will allow us to be more competitive and support the increasing needs of our customers," said Dov Moran, president and CEO of M-Systems. "With our advanced technology and unique innovations, we expect to continue the rapid growth of the company along with the fast growing markets that we helped to create."
"We are pleased to enter into this agreement with M-Systems which deepens our alliance with key innovators of flash technology. In particular, the agreement allows Samsung to continue to develop device-level solutions that will help drive the growth of the flash market in the coming years," said Jon Kang, Senior Vice President of Product Planning of Samsung Electronics. "We look forward to realizing the benefits that this agreement will bring to both of our companies."
About Samsung Electronics
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, and digital convergence technology. Samsung Electronics employs approximately 75,000 people in 89 offices in 47 countries and business performance for 2002 record $49.6 billion in sales and $5.9 billion in net income. Samsung Electronics is the world's leading producer of advanced semiconductors, TFT-LCDs, CDMA mobile phones, monitors and VCRs. Samsung Electronics consists of four main business units: Device Solution Network, Digital Media Network, Telecommunication Network and Digital Appliance Network Businesses.
M-Systems (Nasdaq: FLSH) is a leader and innovator of flash-based data storage products known as flash disks. M-Systems' flash disks provide the functionality of a mechanical hard drive in a silicon chip. M-Systems' products are based on its patented TrueFFS® technology and target applications in a vast array of markets, including connected devices, mobile and telecom. M-Systems' products include the DiskOnChip®, DiskOnKey® and Fast Flash Disk (FFDTM) product families. For more information, please contact M-Systems at www.m-sys.com.
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