TowerJazz and ON Semiconductor Collaborate to Deliver Advanced Product for High-End Display Panel Market

  TowerJazz and ON Semiconductor Collaborate to Deliver Advanced Product for
                        High-End Display Panel Market

Jointly developed programmable PMIC and level shifter; provides wide voltage
range, multiple channels, flexible output sequence and high capacitive loads

PR Newswire

MIGDAL HAEMEK, Israel, January 23, 2013

MIGDAL HAEMEK, Israel, January 23, 2013 /PRNewswire/ --



TowerJazz (Nasdaq: TSEM), the global specialty foundry leader today announced
a collaboration with ON Semiconductor (Nasdaq: ONNN), an innovator in energy
efficient electronics to deliver an advanced programmable PMIC and high
voltage level shifter with VCom targeting the high-end display panel market.

 (Logo: http://photos.prnewswire.com/prnh/20120509/531192 )
This unique part is capable of driving very large loads with different voltage
ranges and features a programmable power sequence that allows the product to
be applied to various applications. To accommodate display panel market
requirements, the part was designed to drive both positive and negative
voltages (42V differential) to support essential high voltage product
specifications. It is also applicable for the various panel applications in
customer markets such as monitors and televisions, both small and large
displays.

The collaboration leverages TowerJazz's latest TS35 power management platform
for design and manufacturing to create a market leading product which is
ramping to volume production. The device will be used for applications such as
different sizes of LCD and AMOLED panels. According to a global TV shipment
report by NPD DisplaySearch, the overall TV market in 2012 was forecast at 245
million units and several key high value segments of the TV business such as
large screen sizes and LED-backlit LCD TVs are expected to continue to grow.

TowerJazz's collaborative efforts created the most cost-effective advanced
product making use of the unique features in its TS35PM platform. This process
offers a low mask count with the ability to generate one boost up and two step
down voltage and two high voltage reference (in this case, negative voltages
as well as positive voltages to meet market required performance), and fully
scalable HV transistors for area optimization. Along with these features,
TowerJazz utilized its world class process design kit (PDK) and design
services. TowerJazz's sophisticated PDK which includes scalable devices
enabled the team to quickly design and simulate the product ensuring it met
the required performance and target die cost. In addition, the high voltage
span requirement is designed with a minimum mask count, further reducing the
product's cost.

"The long-standing partnership between TowerJazz and ON Semiconductor has
produced many successful products for various markets. This unique
relationship combines ON Semiconductor's market position and understanding of
the system with our intimate knowledge of our power management platform," said
Ori Galzur, Vice President of TowerJazz Design Center and Design Enablement.
"TowerJazz's design and manufacturing knowledge accelerates development time,
allowing faster production ramp. This enables our customers to focus on their
system knowledge while we assist by providing design services and save them
the learning curve."

"TowerJazz's advanced technology enables ON Semiconductor to define and
develop new products increasing our market share with existing and new
customers," said Simon Keeton, Vice President and General Manager of ON
Semiconductor's Consumer Products Division. "For the advanced display panel
market, TowerJazz's power management platform was the natural choice because
it enables us to produce the most cost-effective products from die size and
mask count aspects while leveraging integration strategies to include Vcom,
Gamma, and PMIC/HVLS to meet various customer needs. There is also a benefit
derived from designing, manufacturing and the fast production ramp that can be
achieved with a single foundry partner."

About TowerJazz

Tower Semiconductor Ltd. (NASDAQ: TSEM, TASE: TSEM), its fully owned U.S.
subsidiary Jazz Semiconductor Ltd., and its fully owned Japanese subsidiary
TowerJazz Japan, Ltd., operate collectively under the brand name TowerJazz,
the global specialty foundry leader. TowerJazz manufactures integrated
circuits with geometries ranging from 1.0 to 0.13-micron, offering a broad
range of customizable process technologies including: SiGe, BiCMOS,
Mixed-Signal and RFCMOS, CMOS Image Sensor, Power Management (BCD), and
Non-Volatile Memory (NVM) as well as CMOS and MEMS capabilities. TowerJazz
also offers a world-class design enablement platform that complements its
sophisticated technology and enables a quick and accurate design cycle. In
addition, TowerJazz provides (TOPS) Technology Optimization Process Services
to IDMs as well as fabless companies that need to expand capacity, or progress
from an R&D line to a production line. To provide multi-fab sourcing,
TowerJazz maintains two manufacturing facilities in Israel, one in the U.S.,
and one in Japan with additional capacity available in China through
manufacturing partnerships. For more information, please visit
http://www.towerjazz.com.

Safe Harbor Regarding Forward-Looking Statements

This press release includes forward-looking statements, which are subject to
risks and uncertainties. Actual results may vary from those projected or
implied by such forward-looking statements. A complete discussion of risks and
uncertainties that may affect the accuracy of forward-looking statements
included in this press release or which may otherwise affect TowerJazz's
business is included under the heading "Risk Factors" in Tower's most recent
filings on Forms 20-F, F-3, F-4 and 6-K, as were filed with the Securities and
Exchange Commission (the "SEC") and the Israel Securities Authority and Jazz's
most recent filings on Forms 10-K and 10-Q, as were filed with the SEC,
respectively. Tower and Jazz do not intend to update, and expressly disclaim
any obligation to update, the information contained in this release.

TowerJazzMedia Contact: Lauri Julian | +1-949-435-8181 |
lauri.julian@towerjazz.com

TowerJazz Investor Relations Contact: Noit Levi | +972-4-604-7066 |
noit.levi@towerjazz.com

SOURCE TowerJazz
 
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