Marvell CEO Expects 5G Growth to ‘Significantly Accelerate’ in Q4
Semiconductor company Marvell Technology “nearly tripled” its revenue from wireless carriers the past two years by “growing our overall market share” in 5G infrastructure, said CEO Matt Murphy on an earnings call Thursday for fiscal Q2 ended July 31. “We…
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expect a sustained period of strong revenue growth from this end market driven by an increase in 5G deployments, which are still in the early stage of worldwide adoption.” Growth from 5G is expected to “significantly accelerate” in calendar Q4, he said. Marvell has substantially reduced its “dependence” on the consumer market, “which tends to be more volatile with shorter product life cycles” than the enterprise sector, he said. Its consumer operations now generate only 15% of Marvell revenue through its “de-emphasis” on PC components and the December 2019 sale of its Wi-Fi connectivity business to NXP, he said. “We have significantly increased our exposure to the data center and carrier end markets, which are characterized by long product life cycles, sticky design wins and multi-generational engagements.”