"Currently, we expect the transaction will close in the third or fourth quarter of this fiscal year. However, the transaction is still subject to regulatory approvals, including antitrust review in the People’s Republic of China, review and clearance by the Committee on Foreign Investment in the U.S., clearance or approval under applicable Taiwan law, and other customary closing conditions.
As of today, we have not obtained all the necessary approvals, nor have we met all the closing conditions. As such, there’s no assurance that the proposed acquisition by the consortium will close."
Aurelio Cisneros, SVP of WW Sales updates:
"In our first fiscal quarter, we shipped 215 million units, as compared to 180 million units in our prior quarter, reflecting strength in our mobile market and strong growth in our automotive and security markets.
Unit sales of 8-megapixel and above represented approximately 19% of total shipments in the fiscal first quarter equivalent to the prior quarter. Unit sales of 3 to 5-megapixel category represented approximately 40% of total shipments, as compared to 38% in the prior quarter for the same category. Unit sales of 2-megapixel and below represented approximately 41% of total shipments, as compared to 43% in the prior quarter.
In terms of target markets, our mobile phone sales represented approximately 65% of revenues in the first fiscal quarter, as compared to 69% in the prior quarter. Our automotive segment represented 10% of sales, as compared to 9% in our prior quarter. Quarter-on-quarter, the automotive market showed a robust 25% growth.
One fast emerging category is the virtual reality or augmented reality headsets being designed by a vast variety of brand-name OEMs or high potential startups. This category has a broad scope of applications from entertainment, gaming, education, industrial, enterprise, or simply web surfing. We have begun shipping early mass production volumes to a Tier 1 brand-name customer, utilizing our highly specialized global shutter sensors. We are also engaged in several other virtual reality and augmented reality, headset potential applications and designs."
