Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 143

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 143
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 historically characterized as highly cyclical, both seasonally and over the long term. The market fluctuates over time, cycling through periods of weak demand, excess capacity, excess inventory, and price pressure, as well as periods of strong demand, full capacity utilization, and wafer shortages, which command higher selling prices.
 
We price our products on a per-wafer basis, taking into account the unique value of our technology, its ability to enable customers to differentiate their products, the complexity of the technology, prevailing market conditions, volume forecasts, the strength and history of our relationships with the customer and our current capacity utilization. Most customers typically place purchase orders two to six months before shipment.
 
To promote our products, technology offerings and services, we publish press releases, articles, technology journals and white papers. In addition, we present and participate in panel sessions at industry conferences, hold a variety of regional and international technology seminars, and exhibit at various industry trade shows. We regularly discuss advances in our process technology portfolio and progress on specific relevant programs with our prospective and existing customers, as well as industry and research analysts.
 
Our customers use our processes to design and market a broad range of analog and mixed-signal semiconductors for diverse end markets, including wired and wireless high-speed communications, consumer applications, automotive, medical, security, and industrial applications. We sell wafers for a wide range of markets, including high-performance applications such as antenna switches, transceivers and power management circuits for cellular phones; transceivers and power amplifiers for wireless local area networking products; power management, audio amplifiers, and drivers for consumer applications; tuners for digital televisions and set-top boxes; modem chipsets for broadband access devices and gaming devices; serializer/deserializers (SerDes) and silicon photonics ICs (PICs) for fiber optic transceivers; high-end video cameras, dental and medical x-ray vision, industrial cameras, focal plane arrays for imaging applications; controllers for power amplifiers and switching chips in cellular phones; and wireline interfaces for switches, routers and magnetic field sensors.
 

 COMPETITION
 
The competitive dynamics within the global semiconductor foundry industry are subject to change as companies expand their technology portfolios, enter new markets, or adjust their strategic focus. This industry is technology-driven, with constant advancements in capacity equipment, technology processes, materials, and design methodologies. We compete most directly in the specialty segment with foundries such as GlobalFoundries (mainly in the RF business), Vanguard Semiconductor,