GCT Semiconductor Partners With LG Electronics to Enable the Revolution by LG LTE Smartphone for Verizon Wireless

SAN JOSE, Calif.--(BUSINESS WIRE)--GCT® Semiconductor, a leading supplier of 4G solutions to the global market, today announced a combined effort with LG Electronics to develop a highly integrated monolithic LTE single-chip that enables LG’s new smartphone, named “Revolution by LG,” recently launched by Verizon Wireless. With GCT and LG’s proven 4G LTE technology, the Revolution by LG is the first LTE-enabled Android smartphone to support HD playback, recording and streaming, and to include the preloaded Netflix application. LG’s highly anticipated Revolution by LG smartphone represents the second LTE device, available with Verizon Wireless, that is powered by the LTE single-chip developed in partnership between GCT and LG. The same monolithic LTE single-chip also powers LG’s VL600 USB modem.

“The new Revolution by LG smartphone will allow US consumers to experience the blazing speed of Verizon’s 4G LTE network while offering new functions and features such as Netflix support. GCT continues to be well-positioned as a world leading supplier of market-proven 4G single-chip solutions.”

“The introduction of the Revolution by LG on the fastest network in the US marks a major milestone for the LTE ecosystem,” said In-Kyung Kim, Vice President of LG Electronics. “By combining GCT and LG’s advanced 4G expertise, we developed the most cutting-edge smartphone currently available on the market.”

“We are pleased to continue our close collaboration with LG and Verizon to provide faster, more advanced and market-proven LTE solutions to the market,” said Dr. Kyeongho “KH” Lee, President and CEO of GCT Semiconductor, Inc. “The new Revolution by LG smartphone will allow US consumers to experience the blazing speed of Verizon’s 4G LTE network while offering new functions and features such as Netflix support. GCT continues to be well-positioned as a world leading supplier of market-proven 4G single-chip solutions.”

The LTE single-chip, labeled L2000 for LG and GDM7240 for other customers, began shipping in the second quarter of 2010 and is currently commercially deployed in various markets worldwide. L2000 (GDM7240) is the most mature LTE chip available today, ideally suited to meet the rapidly growing demand for higher data speed, higher mobility, enhanced applications and global roaming.

About LG Electronics, Inc.

LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in 115 operations including 84 subsidiaries around the world. With 2010 global sales of KRW 55.8 trillion (USD 48.2 billion), LG comprises four business units – Home Entertainment, Mobile Communications, Home Appliance, and Air Conditioning and Energy Solution. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com.

About LG Electronics Mobile Communications Company

The LG Electronics Mobile Communications Company is a leading global mobile communications and information company. With its cutting-edge technology and innovative design capabilities, LG creates handsets that provide an optimized mobile experience to customers around the world. LG is pursuing convergence technology and mobile computing products, while continuing its leadership role in mobile communication with stylish designs and smart technology. For more information, please visit www.lg.com.

About GCT Semiconductor, Inc.

GCT Semiconductor is a leading fabless semiconductor company that designs, develops and markets innovative integrated circuit solutions for the wireless communications industry. With its proven CMOS radio frequency (RF) and SOC expertise, GCT provides state-of-the-art CMOS RF transceivers and high performance SOC solutions serving 3G and 4G mobile handset manufacturers while reducing component cost, lowering power consumption and offering a smaller footprint. For more information, please visit www.gctsemi.com.