Why GCT Semiconductor Shares Are Moving Lower Tuesday

GCT Semiconductor Holding, Inc. GCTS stock is trading lower on Tuesday after the company signed a Memorandum of Understanding with Samsung to accelerate the development of 4G and 5G chipsets and modules.

What To Know: The companies will work together to promote the Samsung and GCT solution and to strengthen the ecosystem of OEM and ODM device makers in order to support wireless operators worldwide, including the Saudi Arabian oil group Aramco.

Using its 5G chip, GCT is focused on advancing the 5G ecosystem of OEM and ODM device makers for a variety of devices, including mobile routers, ruggedized industrial phones and more. Samsung will provide test environments as well as interoperability and device testing support for GCT’s chipset certification.

“GCT is pleased to continue collaboration with its long-standing partner Samsung,” said John Schlaefer, CEO of GCT.

“We look forward to expanding the 4G/5G ecosystem in Saudi Arabia and beyond, and supporting 5G and 4G wireless operators with their rising needs as they address increasing demand for faster data speed and more capacity.”

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GCTS Price Action: At the time of writing, GCT Semiconductor shares are trading 11.5% higher at $3.79, according to data from Benzinga Pro.

Image: 8785387 from Pixabay.