Fabless semiconductor company Telegent Systems announced that it has shipped 80 million mobile TV chips globally since it first launched its mobile TV receiver technology in mid-2007. Telegent’s chips are used by about 100 device manufacturers.
Telegent's business is so good, in fact, that the company decided to withdraw its IPO, announced in November 2009. “We are able to pursue our growth and diversification goals with the working capital generated from our operations as a private company," explained Samuel Sheng, Telegent CEO and president, "and are choosing to invest in the technology and leadership that will carry us forward before we enter the public market.”
Sheng also said that he would be leaving his position as CEO to resume the role of chief technology officer, "to further develop and expand Telegent’s technology platform."