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17 Jun 2002
AXT of Fremont, California, in the US, is to discontinue producing laser diodes to focus on its core business. The company is better known for its vertical gradient freeze crystal-growth technology, producing gallium arsenide, indium phosphide and germanium wafers for LEDs and VCSELs.
Morris Young, president and CEO of AXT, said: "Over the past year we have experienced tremendous growth in our gallium arsenide and indium phosphide substrate businesses. We successfully launched our new high-brightness blue, green and cyan LED products and introduced VCSEL wafers and chips. We believe that, by focusing our efforts in these core areas, we can use our resources effectively for continued expansion."
Owing to the discontinuation of the laser-diode product lines, the company expects to record pre-tax charges of USD 7.8 million in the fourth quarter of 2000.Link:
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