SEOUL, South Korea, and CUPERTINO, Calif., Dec. 11, 2014 /PRNewswire/ -- MagnaChip Semiconductor Corporation ("MagnaChip") (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced it is the recipient of the 2014 North American New Product Innovation Leadership Award in Digital Hall Sensors and e-Compass from Frost & Sullivan.
Frost & Sullivan recently established the award criteria in Digital Hall Sensors and e-Compass, acknowledging the unprecedented rate that sensors are finding increased use in devices such as smartphones, and tablets, and fueled by the growth of Internet-of-Things as well as mobile applications. Magnetic sensors such as the digital Hall sensor and e-Compass are believed to deliver a simple and effective solution of sensing linear and angular positions of an object. The market is expected to steadily grow with increasing demand driven by mobile phone, consumer appliance, and industrial applications.
According to Frost & Sullivan analyst Sankar Narayanan, "MagnaChip's intelligent sensor products that are comprised of the MXM1120 digital Hall sensor and the MXG2320 e-Compass are a true mark of innovation due to their innovative features, such as their integrated multi-functions, flexible programmability, high resolution accuracy and idea-enabling algorithm suits. The sensor product line is expected to encompass huge potential for adoption across a range of industries and application areas, by offering value propositions such as broad flexibility in terms of design, an equally broad range of supporting software, and the company's robust support program for OEMs and partners."
"We are honored to be recognized by Frost & Sullivan as a product innovator in digital Hall sensors and e-Compass for North America," said YJ Kim, MagnaChip interim CEO. "We believe the advanced features of our sensor products can deliver high value to our customers and will facilitate an increased return on investment for them and their end users."
About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest ranges of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents, and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.
About Frost & Sullivan
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SOURCE MagnaChip Semiconductor Corporation