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Founded in 1987, Cree is a listed company in the United States (NASDAQ: CREE since 1993). It is a well-known manufacturer and industry leader that integrates semiconductor materials, chips, packaging, and LED lighting solutions. The advantages of Cree LED lighting products are reflected in their use of gallium nitride (GaN) and silicon carbide (SiC). Cree has unique material technology and white light technology, holding 1,100 US patents and over 2,800 international patents. This positions Cree LED products at the world-leading level. Cree's lighting-grade high-power LEDs offer high luminous efficiency, stable color points, and long life. Alongside providing customers with high-quality and highly reliable light-emitting devices, Cree also offers complete LED lighting solutions. Cree LED employs approximately 1,600 people worldwide and reported a revenue of $403 million in fiscal year 2022. In March 2021, Smart Global Holdings acquired Cree LED. As a result, Cree LED is no longer owned by Wolfspeed but operates independently as a subsidiary of SGH. This change allows Cree to focus on the development, manufacturing, and marketing of LED components.