Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 44

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 44
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 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.

29

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,
DongBu, X-Fab, and Hua Hong Semiconductor. We also compete in some areas with pure-play advanced technology node-driven foundry service
providers such as Taiwan Semiconductor Manufacturing Corporation (TSMC), United Microelectronics Corporation (UMC), and Semiconductor
Manufacturing International Corp. (SMIC). These three pure-play semiconductor foundries primarily compete against one another and focus
on 12-inch deep-submicron CMOS processing, though they each also have technology and capacity for specialty process technologies.

The rest of the foundry industry, including existing Chinese, Korean
and Malaysian found