Product category: Power Supply ICs and Controllers
News Release from: Summit Microelectronics
Edited by the Electronicstalk Editorial Team on 6 February 2007
Nokia funds growth at Summit
Summit Microelectronics has announced that Nokia Growth Partners has led a growth financing investment round in the company
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The US $10 million round includes Nokia Growth Partners contributing $4 million, with existing investors Norwest Venture Partners, August Capital, Pequot Ventures, Bessemer Venture Partners, Hotung Capital Management and others contributing $6 million. 'Mobile phones no longer just make voice calls, but connect to the Internet and act as our mobile camera, music player, navigation device, and even our mobile television'.
'This growing functionality raises the importance of power management'.
'Nokia Growth Partners is pleased to lead this investment round'.
'Summit has assembled a world-class team specialising on these issues and has built unique products to help meet the rising power performance demands of mobile device manufacturers', said Rob Trice, of Nokia Growth Partners.
Further reading
Charger chip cuts power supply demands
Combining switch-mode operation with Summit's proprietary Turbo Charge mode the SMB135 dramatically cuts charge time, shrinking or eliminating costly and bulky AC/DC power supplies
Manager integrates more for portable power
The SMB118 integrates six precision programmable regulators and programmable battery charging to reduce system size and cost in portable consumer electronics
'Having the world's largest user of power management ICs help fund our growth is very exciting', added Pat Brockett, Summit's President and CEO.
'It reinforces our belief that Summit's technology will become pervasive in consumer and battery powered applications'.
'The challenges of increasing complexity and battery run-time, coupled with tighter time to market pressure, have rendered the traditional 'hard-wired' analogue building-block approach obsolete'.
'Summit's programmable power management technology is ideal for portable and handheld systems with applications ranging from intelligent battery management to powering next generation organic LED (OLED) displays', continued Brockett.
'The unique combination of integration and programmability enables sophisticated power management functionality and unprecedented flexibility in design and production while preserving the lowest bill-of-materials cost'.
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