Geneva, Switzerland, July 25, 2024 (GLOBE NEWSWIRE) -- Strategic Initiatives Include the Launch of Quantum-Resistant Secure Chips and Partnerships to Establish Chip Design and Customization Centers Despite Temporarily Slowdown in H1 2024, Expects a Stronger H2 and Return to Growth in 2025 SEALSQ Corp ("SEALSQ" or "Company") (NASDAQ: LAES), a leader in developing and selling semiconductors, PKI, and post-quantum technology hardware and software products, announces significant progress made on strategic initiatives in the first half of 2024.
The temporary slowdown is attributable to two main factors: the excess component inventories at legacy customers post-capacity shortage crisis (a global issue affecting all semiconductor companies), and the decline in orders for legacy products as select large SEALSQ customers are deferring new orders until after the development of next-generation chips. The Company anticipates a stronger H2 2024 and a return to growth in 2025, as it expects supply chain issues and inventory issues to be resolved thus the demand from legacy customers to return to pre-shortage levels.
Launch of Quantum-Resistant Secure Chips SEALSQ remains set to launch its new range of Quantum Resistant, or Post-Quantum Secure Chips, including the QS7001 and QVault TPM, by Q4 2024.
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