Magnachip Semiconductor Corp. plans to shut down display business in second quarter of 2025

The board of directors of Magnachip Semiconductor Corp. has unanimously approved a plan to shut down the company's display business by the end of the second quarter of 2025. The move is to focus on the power discrete and power IC businesses, achieve profitable revenue growth and maximize shareholder value. Although the company had discussions with several interested parties, no transaction was reached. As a result, the company has begun notifying customers affected by this decision.