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Cree is forming a joint venture, Cree Venture LED Company, with Sanan Optoelectronics to produce and deliver mid-power lighting class LED packaged products. Cree will own 51% and Sanan 49% of the joint venture, which will be located in Hong Kong.
“This joint venture builds on both companies’ leading product and channel capabilities to give Cree the ability to provide our LED customers a complete range of high-power and mid-power LED products.”semiconductorforu.com
Summarized from public sources; check the original articles before acting on it.