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We are pioneers in wireless innovation and have spent the last two decades simplifying the complexity of radio frequency (“RF”) from silicon to cloud.
−Removed: Our leading Internet of Things (“IoT”) platform helps customers quickly create secure, intelligent connected devices.
−Removed: Our team and technology assist customers to build connected devices that measurably solve development challenges, including energy efficiency, and enable applications that support better health, innovative infrastructure and sustainable cities.
+Added: Our leading platform, purpose-built for the Internet of Things (“IoT”), helps customers quickly create secure, intelligent, connected devices.
+Added: Our team and technology assist customers in solving development challenges, including energy efficiency, to build connected devices for applications that support better health, innovative infrastructure, and sustainable cities.
Our semiconductor devices leverage standard complementary metal oxide semiconductor (“CMOS”), a low-cost, widely available process technology.
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Our software expertise allows us to develop products for markets where intelligent data capture, high-performance processing, and communication are increasingly important product differentiators.
−Removed: We also focus design and engineering efforts on technologies that simplify and accelerate adoption by customers of security features engineered into our silicon chips.
−Removed: Our expertise in analog-intensive, mixed-signal IC design in CMOS and software development allows us to develop new and innovative products that are highly integrated and secure, simplifying our customers’ designs and improving their time-to-market.
+Added: We also focus design and engineering efforts on technologies that simplify and accelerate customer adoption of security features engineered into our silicon chips.
+Added: Our expertise in analog-intensive, mixed-signal integrated chip (“IC”) design in CMOS, as well as in software development allows us to create new and innovative products that are highly integrated and secure, simplifying our customers’ designs and improving their time-to-market.
Industry Background
−Removed: Intelligence is being added to electronic systems to enable internet connectivity, power efficiency, monitoring of health, safety and consumption of precious resources and an improved user experience.
−Removed: This in turn is increasing the demand for bandwidth, requiring more infrastructure to support higher-performance networks.
−Removed: The nearly ubiquitous availability of internet access and the increasing intelligence of electronic devices and mobility are enabling what is called the Internet of Things, a term that describes the exponential increase in IP-enabled devices connected to the internet.
−Removed: These trends require more and more interaction between the analog world we live in and the digital world of computing, which is driving the need for analog-intensive, mixed-signal circuits in a wide range of electronic products.
+Added: The Internet of Things is about connecting embedded applications to the Internet.
+Added: The phrase IoT describes the myriad of smart, connected devices that surround us today, deployed in a variety of home, life, commercial, and industrial applications.
+Added: When MIT’s Kevin Ashton first used the phrase in 1999, he was promoting the possibilities of RFID, but today, the IoT describes an impressive array of devices and capabilities.
+Added: Machine learning is bringing greater intelligence to the edge on battery-powered devices.
+Added: The IoT is monitoring patients’ health 24/7 to send rich data to doctors miles away.
+Added: Smart, connected devices are detecting water leaks to improve sustainability and managing bee colonies to strengthen the food supply.
+Added: It’s an industry of variety and impact.
+Added: Whether in a door lock or a heart monitor, a smart home thermostat, or a municipal energy grid, Silicon Labs solutions are improving life and the sustainability of the planet.
+Added: The IoT requires interaction between the analog world we live in and the digital world of computing, which drives the need for analog-intensive, mixed-signal circuits in a wide range of electronic products.
Traditional mixed-signal designs relied upon solutions built with numerous, complex discrete analog and digital components.
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As a result, manufacturers of electronic devices value providers that can supply them with mixed-signal solutions offering greater functionality, smaller size, and lower power requirements at a reduced cost and shorter time-to-market.
+Added: Silicon Labs has the breadth in its portfolio, depth of wireless connectivity expertise, and the focus on IoT to help its customers bring their innovative ideas to market quickly.
We provide analog-intensive, mixed-signal solutions for use in a variety of electronic products in a broad range of applications for the IoT.
−Removed: We have built a leading wireless development platform and product portfolio for the IoT based on Bluetooth®, sub-GHz proprietary technologies, Thread, Wi-Fi®, Zigbee® and Z-Wave®.
+Added: We have built a leading wireless development platform and product portfolio for the IoT based on Bluetooth®, sub-GHz proprietary technologies, Wi - SUN, Thread, Wi-Fi®, Zigbee® and Z-Wave®.
Our products integrate complex mixed-signal functions that are frequently performed by numerous discrete components in competing products into a single chip, chipset or system-on-chip (“SoC”).
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We have continued to diversify our product portfolio and introduce new products and solutions through both organic investment and acquisitions.
+Added: The life cycles of our products are relatively long, given the amount of effort and time required in the design in process for our customers.
Revenues during fiscal 2023, 2022 and 2021 were generated predominately by sales of our mixed-signal products.
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Our EFM32™, EFM8™, 8051, wireless MCUs and wireless SoCs are based on numerous wireless protocols, including Bluetooth, sub-GHz proprietary technologies, Thread, Wi-Fi, Zigbee and Z-Wave technologies.
−Removed: Our family of products are ideally suited to ultra-low power IoT embedded systems that include energy friendly 8-bit mixed-signal microcontrollers, ultra-low power 32-bit microcontroller and wireless MCU connectivity solutions using the ARM® Cortex-M0+/M3/M4 and newer M33 cores.
+Added: Our family of products are ideally suited to ultra-low power IoT embedded systems that include energy friendly 8-bit mixed-signal microcontrollers, ultra-low power 32-bit microcontrollers and wireless MCU connectivity solutions using the ARM® Cortex-M0+/M3/M4 and newer M33 cores.
Single and multi-protocol SoC devices and modules provide flexible, highly integrated solutions designed to meet demanding requirements of IoT applications.
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Leveraging the Industrial IoT allows companies to increase production and efficiency, understand and improve processes, and predict faults in processes before downtime occurs.
−Removed: Industrial IoT solutions address energy efficiency, operation excellence and smart usage of commercial spaces.
+Added: Industrial IoT solutions address energy efficiency, operational excellence and smart usage of commercial spaces.
Our industrial IoT solutions simplify human-machine interfaces and access controls;
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- Smart home sensing
+Added: - Smart locks
+Added: - Window/blinds controls
Target Market
Connected Health
−Removed: Smart medical devices, such as pulse oximeters, ECG monitors, and fitness wearables, make healthcare more accessible and are improving lives around the world.
−Removed: Crowded RF environments, regulatory requirements, and security make development of these connected medical devices challenging for device manufacturers.
+Added: Smart medical devices, such as continuous glucose monitors, pulse oximeters, ECG monitors, and fitness wearables, make healthcare more accessible and are improving lives around the world.
+Added: Regulatory requirements, product miniaturization needs, battery life, and security make development of these connected medical devices challenging for device manufacturers.
Our low-power, high-performance wireless SoCs and modules simplify this process and accelerate time-to-market to develop secure, reliable, smart medical devices.
+Added: - Diabetes management
- Consumer health & fitness (wearables)
−Removed: - Connected medical products
−Removed: - Medical instrumentation
+Added: - Elderly care
- Patient monitoring
+Added: - Activity tracking
Customers, Sales and Marketing
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The ability to develop standard products with the broadest possible customer application base while being cost-efficient with the silicon area of the monolithic CMOS integrated circuit requires a keen sense of customer value and engineering capabilities.
−Removed: Additionally, to manage the wide variety of signals on a monolithic piece of silicon including electrical noise, harmonics and other electronic distortions requires a fundamental knowledge of device physics and accumulated design expertise.
+Added: Additionally, managing the wide variety of signals on a monolithic piece of silicon including electrical noise, harmonics and other electronic distortions requires a fundamental knowledge of device physics and accumulated design expertise.
Software Expertise
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Our products integrate high-performance, low-power wireless and microcontroller ICs with reliable and scalable software into a flexible and robust networking platform.
−Removed: The demand for low-power, small-footprint wireless technology is accelerating as more and more IP-enabled end points are being connected to the IoT.
+Added: The demand for low-power, small-footprint wireless technology is accelerating as more and more IP-enabled endpoints are being connected to the IoT.
Our software enables a broad range of power-sensitive applications for the IoT, including smart energy, home automation, security and other connected products.
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In addition to being able to manage numerous application tasks, an RTOS enhances scalability, and makes complex applications predictable and reliable.
−Removed: To address these application needs, we acquired Micrium, an embedded RTOS provider.
+Added: To address these application needs, in 2016 we acquired Micrium, an embedded RTOS provider.
Micrium has established itself as a reliable, high-performance and trusted RTOS software platform, with an installed base that has grown to millions of devices.
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Our combined expertise in IC design and software development allows us to engineer modules that provide robust, high-performance connections in challenging wireless environments.
−Removed: We have developed wireless modules based on numerous wireless standards, including Z-Wave, Bluetooth, Zigbee, Thread, Wi-Fi and sub-GHz.
+Added: We have developed wireless modules based on numerous wireless standards, including Bluetooth, sub-GHz, Thread, Wi-Fi, Zigbee and Z-Wave.
We believe our demonstrated proficiency in the design of modules provides our customers with significant advantages such as fast time to market, reduced development cost, global wireless certifications and software reuse.
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(“TSMC”) and Semiconductor Manufacturing International Corporation (“SMIC”) to manufacture the majority of our semiconductor wafers.
−Removed: We believe that our fabless manufacturing model significantly reduces our capital requirements and allows us to focus our resources on design, development and marketing of our ICs.
+Added: We believe that our fabless manufacturing model significantly reduces our capital requirements and allows us to focus our resources on the design, development and marketing of our ICs.
Once the silicon wafers have been produced, they are shipped directly to our third-party assembly subcontractors.
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We expect that our utilization of offshore third-party test subcontractors will remain substantial during fiscal 2024.
−Removed: The impacts of the COVID-19 pandemic on our suppliers are uncertain, evolving and dependent on numerous unpredictable factors outside of our control.
−Removed: If our suppliers experience closures or reductions in their capacity utilization levels in the future, we may have difficulty sourcing materials necessary to fulfill production requirements.
+Added: If our suppliers, due to unpredictable factors outside their control, experience closures or reductions in their capacity utilization levels in the future, we may have difficulty sourcing materials necessary to fulfill production requirements.
Disruptions to our business and supply chain (and the business and supply chains of our customers) could cause significant delays in shipments of our products until we are able to shift our manufacturing, assembling or testing from the affected subcontractor to another third-party vendor.
−Removed: Capacity is currently limited at certain of our third-party foundry, assembly and test subcontractors due to a spike in semiconductor demand.
We include in backlog accepted product purchase orders from customers and worldwide distributor stocking orders.
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We compete with Broadcom, Espressif, Infineon, MediaTek, Microchip, Nordic Semiconductor, NXP, Qualcomm, Renesas, STMicroelectronics, Synaptics, Telink, Texas Instruments and others.
−Removed: We expect to face competition in the future from our current competitors, other manufacturers and designers of semiconductors and start-up semiconductor design companies.
+Added: We expect to face competition in the future from our current competitors, other manufacturers, designers of semiconductors and start-up semiconductor design companies.
Our competitors may also offer bundled solutions offering a more complete product, which may negatively impact our competitive position despite the technical merits or advantages of our products.
In addition, our customers could develop products or technologies internally that would replace their need for our products and would become a source of competition.
−Removed: We could also face competition from module makers or other systems suppliers that may include mixed-signal components in their products that could eliminate the need for our ICs.
+Added: We could also face competition from module makers or other systems suppliers that may include mixed-signal components in their products, which could eliminate the need for our ICs.
Many of our competitors and potential competitors have longer operating histories, greater name recognition, access to larger customer bases, complementary product offerings, and significantly greater financial, sales and marketing, manufacturing, distribution, technical and other resources than us.
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We have focused attention on improving our environmental, social and governance (“ESG”) metrics.
−Removed: We included diversity, equity and inclusion (“DEI”) metrics as a component of senior management bonuses for fiscal 2022.
+Added: We included diversity and inclusion metrics as a component of senior management bonuses for fiscal 2023.
These principles are also reflected in our employee training, in particular with respect to our policies against harassment, discrimination and the elimination of bias in the workplace.
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During fiscal 2023, our voluntary employee turnover rate was 8%.
−Removed: The health and safety of our employees is of utmost important to us.
−Removed: We offer comprehensive benefits to protect the health of our employees and their families as well as their way of life.
−Removed: We provide our employees and their families with access to a variety of innovative, flexible and convenient health and wellness programs that support their physical and mental health by providing tools and resources to help them improve or maintain their health status.
−Removed: We have taken additional health and safety measures due to the COVID-19 pandemic and will continue to adjust these as needed based upon health authority guidelines.
+Added: The well-being of our employees is of utmost importance to us.
+Added: We offer comprehensive benefits resources and tools to address the healthcare and wellness needs of our employees and their families, enable them to manage their work-life balance, and plan for a secure future.
+Added: We provide our employees and their families with access to a variety of innovative, flexible programs that support their physical, mental, and financial health as well as providing flexible work arrangements and generous time off programs.
Corporate Social Responsibility
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We believe our products enable sustainable IoT solutions across home, medical, industrial and commercial environments, including air pollution and waste management monitoring, water integrity, residential irrigation monitoring, street lighting networks, advanced metering infrastructure and building energy management.
−Removed: Innovative solutions don’t stop at our products – we are also actively supporting research to improve safety, sustainability, and overall quality of life in densifying cities as the founding corporate partner for the Smart City Living Lab at The International Institute of Information Technology in Hyderabad, India.
+Added: Innovative solutions do not stop at our products – we are also actively supporting research to improve safety, sustainability, and overall quality of life in densifying cities as the founding corporate partner for the Smart City Living Lab at The International Institute of Information Technology in Hyderabad, India.
We demand excellence in our quality and environmental management systems, each respectively certified to ISO 9001:2015 and ISO 14001:2015 standards.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.