On December 17, Cree LED announced a multi-year global patent licensing agreement with Daktronics, which will take effect in December 2024. Cree LED will grant Daktronics licenses to use its patented LED technologies for the duration of the agreement.
Cree LED reportedly boasts over 35 years of expertise in LED chip and packaging technologies, and has accumulated a rich portfolio of intellectual property rights covering LED display applications. Through a focus on innovation and continuous investment in R&D, Cree LED has secured numerous patents to protect its LED technology development. Currently, Cree LED is dedicated to providing advanced and durable solutions to meet the stringent performance requirements of next-generation LED displays.
Image source: Cree LED
In Penguin Solutions' (formerly Smart Global Holdings (SGH)) Q3 FY2024 financial report, the LED solutions business, led by Cree LED, saw a 6% quarter-on-quarter revenue increase during the reporting period, accounting for 21% of Penguin Solutions' total sales. It is understood that Cree LED's LED solutions business is experiencing improved order backlog and channel visibility.
As a leading LED display manufacturer, Daktronics is committed to providing customers with advanced LED display systems, whose products can be applied in commercial advertising, sports, architectural lighting, transportation hubs, and other fields. Through this technology licensing agreement, Daktronics will provide the market with industry-leading LED display systems and ensure that its products are not affected by claims within the scope of the Cree LED patents licensed under the agreement. (Translated by Irving)
