GCT Semiconductor Signs MOU With Global Tier One Telecommunications Supplier To Collaborate On The Development Of Fixed Wireless Access Technology Using GCT's 5G Solutions Including Modem Chipset And RFIC

The Agreement with Global Tier One Supplier Includes Development Collaboration on Fixed Wireless Access Devices Using GCT's 5G Chipsets

GCT Semiconductor Holding Inc. ("GCT" or the "Company") (NYSE:GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, announced today the execution of a memorandum of understanding ("MOU") with a tier one worldwide infrastructure and terminal provider (the "Tier One Supplier") to collaborate on the development of Fixed Wireless Access ("FWA") technology using GCT's 5G solutions including modem chipset and RFIC. The Company expects to close a definitive agreement before the end of 2024.