Wednesday, December 14 2005 16:37 Hrs (IST) - World Time -

Bangalore: Cypress Semiconductor Corp. (NYSE: CY) and FE Global Electronics have extended their distribution agreement allowing FE Global to sell Cypress's products into India—a market that is projected to reach US$40 billion by 2010. FE Global, which became a distribution partner of Cypress in 1993, has contributed significantly to the company's sales growth in China, Malaysia, the Philippines, Singapore and Thailand.

"We are on the threshold of a tremendous growth trajectory in India as numerous hardware and embedded design companies are evolving, " said Naveen Kumar, Cypress's country sales manager in India. "Since most of Cypress's products, including our PSoC® programmable mixed-signal arrays, USB controllers, wireless transceivers, programmable clocks, and CMOS image sensors, require field support to get designed in, partnering with FE Global will give us an added advantage as they bring very good demand-creation capabilities coupled with excellent salesmanship."

FE Global opened its first sales office in India in September 2001, and now has four offices in Bangalore, Hyderabad, Pune & Delhi. The company believes its knowledge of the Indian market and strong team of sales and field application engineers will enable Cypress to increase its revenue and business penetration in India.

"The Indian market has a promising future," said Alex Onn, CEO of Flextech Holdings Ltd. and FE Global Electronics Pte Limited. "We are very pleased to be working with Cypress to develop this market and bring us mutual benefit."