As Cree has announced on its website, the company has established a new joint venture with Chinese San’an Optoelectronics. The new joint venture aims to develop highly efficient mid-power LEDs. 
 

As Cree stated, this move will enable the company to considerably broaden its range of high-performing mid-power LEDs which are essential for various indoor and outdoor applications and evolving market segments such as horticultural lighting. Cree is convinced that with the new joint venture the needs of a much larger group of customers can be served.
 

 

Located in Hong Kong, the new joint venture particularly targets markets in North & South America, Europe, Japan and China. Cree owns 51% and Sanan 49% of the company’s share. CREE’s leading product expertise and distribution channels combined with Sanan’s production capabilities are supposed to be a decisive advantage for the new joint venture in the globally fast-growing 4 billion USD mid-power LED market. Initial sales is expected to start by the third calendar quarter of 2017.sm.