is selling a product line used in displays for consumer appliances and cell phones, the company announced Tuesday.
The Portland, Maine, company is selling its LED and LED display product lines for an undisclosed sum to
, the U.S. subsidiary of Taiwan's
The sale will allow Fairchild to focus on its core businesses, Dr. Mark Thomson, Fairchild's president and CEO, said in a statement accompanying the announcement. "We will continue to concentrate our internal investments towards developing our higher value analog and system power optimization products," said Thomson.
Fairchild will retain its infrared and optocoupler businesses.
Fairchild's sales force will continue to support the sale of LED products to its customers for an "appropriate" period of time and assist Everlight in the transition until the company is ready to take over day-to-day sales operations, expected in the first quarter of 2006.
In the past, Fairchild has outsourced some of the manufacturing of its LED products to Everlight.
"Everlight and Fairchild have long partnered in the LED business so this transition is a winning situation for our customers, our company and Everlight," said Thomson.
Shares of Fairchild, which closed at $17.15 on Tuesday, were unchanged in after-hours trading.