HAUPPAUGE, N.Y. & SAN JOSE, CALIF. -- Orbic North America, LLC (“Orbic”), an international leader in mobile technology innovation, and GCT Semiconductor Holding, Inc. (“GCT”) (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, announced the signing of a letter of intent (LOI) for a partnership to jointly develop and supply an Orbic-branded mobile hotspot and FWA gateway utilizing a Verizon-certified 5G module based on GCT’s new 5G chipset. The LOI outlines the framework for collaboration between the parties, including terms related to volume purchases for supply to Verizon and other operators.

As part of the collaborative multi-phase market rollout, Orbic and GCT will initially focus on devices for the Verizon network. Additionally, they will offer versions of the module and devices, including mobile hotspots and CPEs, to other network operators worldwide. GCT will support the joint development and technical efforts by providing core services, including technical expertise, and chipsets for volume production requirements.

“We are thrilled to partner with Orbic, a trusted and established Verizon supplier, to embark on the development and supply of a state-of-the-art 5G module for mobile hotspots and FWA gateways,” says John Schlaefer, CEO of GCT. “This collaboration underscores GCT’s commitment to innovation and delivering cutting-edge 5G technology solutions. As we work together to create a Verizon-certified 5G module, we are confident that the new Orbic-branded devices using the GCT 5G chipset will set new standards for connectivity and performance.”

“By combining Orbic‘s cutting-edge 5G device innovation with GCT’s deep expertise in advanced wireless connectivity, we are strengthening our ability to deliver transformative solutions,“ said Mike Narula, Founder and CEO of Orbic. ”This partnership will not only broaden the reach of our wireless access innovations but also extend the benefits of wireless connectivity without the need for traditional copper connection, all while ensuring exceptional service quality.”

Orbic is building a state-of-the-art manufacturing facility in Hauppauge, NY, which will be utilized for manufacturing CPEs, mobile hotspots, smartphones and tablets.

The partnership contemplated by the LOI is subject to the negotiation of and entry into definitive agreements, and the parties intend to complete this process as soon as practicable.