GCT Semiconductor signs LOI with Orbic to develop 5G mobile hotspot and FWA gateway

GCT Semiconductor Holding, Inc.

Orbic and GCT will jointly develop an Orbic-branded mobile hotspot and FWA gateway using GCT's Verizon-certified 5G module.
LOI includes terms for volume purchases to supply Verizon and other operators; multi-phase market rollout planned.
GCT provides chipsets and technical expertise; Orbic will manufacture CPEs, hotspots, smartphones at new facility in Hauppauge, NY.
Partnership is subject to negotiation of definitive agreements; parties intend to complete as soon as practicable.
No financial terms or binding commitments disclosed in the LOI.

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