Jan. 28, 2002 – San Jose, CA – Philips Semiconductors, a division of Royal Philips Electronics, and Mitsumi Electric Co. Ltd. have entered into a joint agreement covering planned collaborations on development, manufacturing, marketing, and sales of analog and mixed-signal ICs.

This agreement expands the existing relationship between the two companies under a previously signed manufacturing services and resale agreement. It also strengthens their strategic relationship for new product development and business growth.

Philips Semiconductors and Mitsumi Electric have historically concentrated in different areas of the standard analog market. Under the terms of the agreement, the companies will cross-sell existing product lines from the other company. As new products are developed jointly in the future, both companies will hold IP rights and have the right to sell the products through their respective channels.

“We are excited to further expand our collaboration with Philips Semiconductors,” said Isao Sato, VP and GM of Mitsumi Semiconductor division. “Mitsumi and Philips have complementary strengths in wafer processing and applications.”