SEOUL (dpa-AFX) - Magnachip Semiconductor Corp. (MX), Tuesday announced its decision to shut down its Display business by the end of the second quarter of 2025, which also includes the liquidation of Magnachip Mixed-Signal, Ltd.
Following this, the company intends to focus on its Power discrete and Power IC company to achieve profitable revenue growth and maximize shareholder value.
The decision comes as the company tried many strategic options for Display business. However, it failed to consummate a transaction following several months of discussions with several interested parties.
Further, the company stated that it aims to achieve a quarterly adjusted EBITDA break-even from continuing operations by the end of 2025, expecting to result in positive adjusted operating income in 2026 and positive adjusted free cash flow in 2027.
In the pre-market hours, MagnaChip's stock is trading at $2.84 on the New York Stock Exchange.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
