Business Summary

Cree Research, Inc. was established to commercialize silicon carbide, or SiC, semiconductor wafers and devices. Currently, the Company develops and manufactures semiconductor materials and electronic device made from SiC and other wide bandgap compound semiconductor products. Using its proprietary compound semiconductor technology, Cree produces light emitting diodes, or LEDs, for use in automotive and liquid crystal display, or LCD, backlighting, indicator lamps, full color LED displays and other lighting applications. The Company also manufactures SiC crystals used in the production of unique gemstone products and SiC wafers sold for research directed to optoelectronics, microwave and power applications. SiC-based compound semiconductor devices offer significant advantages over competing products based on silicon, gallium arsenide or GaAs and other materials for certain electronic applications.