Monday, 12 August 2019 12:31

Weebit Nano teams with XTX to tackle China market

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Weebit Nano teams with XTX to tackle China market Image IndypendenZ, FreeDigitalPhotos.net

Australian-listed semiconductor company Weebit Nano and flash memory chips provider XTX Technology have signed a letter of Intent to co-operate and investigate ways to use Weebit’s SiOx ReRAM technology in XTX products and explore potential co-operation in sales and marketing activities in China.

Weebit (ASX: WBT) says the Chinese-owned XTX Technology is now seeking ways to incorporate into its products the latest technologies that exhibit the “superior functionality and capability needed in more advanced applications starting to be provided today” - and believes Weebit’s SiOx ReRAM technology “has the potential to be a strong fit for their needs”.

Coby Hanoch, CEO of Weebit Nano, said: “We are very excited to engage with XTX, a leading provider of flash memory products, both inside China and around the world”.

“We jointly identified a potential for co-operation by using Weebit’s SiOx ReRAM technology to replace some of XTX’s products that are based on older technologies reaching the limits of their capability.

“China is by far the largest consumer of semiconductor technology in the world. In addition to the application of Weebit’s SiOx ReRAM, we will also be exploring potential cooperation between our companies in sales and marketing activities in this strategic market.”

“In the hi-tech domain, if you don’t constantly move forward you fall behind,” said Mark Long, CEO of XTX Technology.

“We have examined many of the latest emerging memory technologies with a view to enhancing or replacing some of our products which are based on older technologies. We believe Weebit’s SiOx ReRAM technology might enable us to achieve this goal and are looking forward to this co-operation.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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