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Cree Expands LED Components Distribution Network with Avnet

Jul 21, 2016
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Cree Expands LED Components Distribution Network with Avnet

DURHAM, N.C. AND PHOENIX -- Cree, Inc. (Nasdaq: CREE) and Avnet, Inc. (NYSE: AVT), a leading global technology distributor, announced a strategic agreement that expands coverage in the Americas for the distribution of Cree's comprehensive portfolio of innovative LED components including high-power, Chip-on-Board, high brightness and LED modules. This agreement demonstrates Cree and Avnet’s shared commitment to provide customers with the industry’s best LED solutions and service to continue driving LED adoption.

“Adding Avnet to Cree’s industry-leading distribution network demonstrates Cree’s continued investment in and commitment to its LED business, giving customers greater access to the LEDs that deliver the best system value,” said Dave Emerson, vice president and general manager for Cree LEDs. “Combining Cree’s LED technology with Avnet’s dedicated team of LED-focused Illumineers and state-of-the-art LightLab will accelerate the adoption of the next generation of LED solutions that combines lighting with IoT.”

Cree has the broadest portfolio of application-optimized, lighting-class LED components that sets the industry’s benchmarks for performance, light quality and reliability. With more than 4,000 patents, Cree remains the driving force behind the innovative high-power LEDs that have redefined lighting with significantly improved overall lighting system value for applications such as street, outdoor area, stadium, retail spot and high-bay lighting.

“Avnet and Cree share a commitment to not only facilitate the transition from conventional filament and fluorescent lamps to LED lighting, but to also help our customers bring true intelligence to lighting,” said Alex Iuorio, senior vice president, supplier development, Avnet Electronics Marketing Americas. “With the support of Avnet’s Illumineers and LightLab and Cree’s portfolio of components and modules, we can provide designers who want to leverage the IoT to add more value to their products with easy-to-implement solutions that will reduce development time and cost, while fast-tracking time to market.”

Please visit https://www.cree.com/LED-Components-and-Modules/Products to learn more about Cree’s comprehensive portfolio of LED components.

Please visit https://products.avnet.com/shop/en/ema/manufacturer/cree-inc for more information on the Cree® products available through Avnet. Visit https://www.youtube.com/watch?v=zqtO9-Rhnew to take a video tour of Avnet’s Chandler, Ariz. LightLab.

About Cree, Inc.

Cree is a market-leading innovator of lighting-class LEDs, lighting products and semiconductor products for power and radio frequency (RF) applications. Cree believes in better light experiences and is delivering new innovative LED technology that transforms the way people experience light through high-quality, interior and exterior LED lighting solutions. Cree’s product families include LED lighting systems and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree’s products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and inverters. Please refer to www.cree.com for additional product and Company information.

About Avnet, Inc.

From components to cloud and design to disposal, Avnet, Inc. (NYSE:AVT) accelerates the success of customers who build, sell and use technology globally by providing them with a comprehensive portfolio of innovative products, services and solutions. Avnet is a Fortune 500 company with revenues of $27.9 billion for the fiscal year 2015. For more information, visit www.avnet.com.

This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk that actual savings and lifetimes will vary from expectations; the risk we may be unable to manufacture these new products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk we may encounter delays or other difficulties in ramping up production of our new products; customer acceptance of our new products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 28, 2015, and subsequent filings.

Cree® is a registered trademark of Cree, Inc.

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