Fairchild Semiconductor Announces Plans to Increase Market Share and Revenues

Fairchild Semiconductor International Inc. (South Portland, ME) announced plans to achieve a 10 percent market share in its component segments and double revenues by 2002. The company will focus its growth efforts on power and interface devices and advanced packaging.

The plan includes three broad initiatives: focused research and development, increases in production capacity, and acquisitions to broaden its product and technology portfolio. Market segments of particular interest to Fairchild include communication appliances, including wireless applications, Internet hardware and digital consumer appliances.

"At our inception, less than five percent of sales revenues were generated from new products," said Kirk Pond, president, chairman and CEO. "In our recent December quarter, more than 28 percent of sales were from new products, and we expect new product revenues to account for 40 percent in the near future."

The company is already investing heavily and has made investments totaling $255.0 million, more than double the expenditures in recent years. Investments include $70.0 million in South Portland; $44.0 million in West Jordan, Utah; $30.0 million in Penang, Malaysia; $79.0 million in Puchon, South Korea; and $32.0 million in Cebu, Philippines.