TChip Semiconductor Ltd. manufactured low-cost RF device for use in the Global Positioning System (GPS) market. TChip was founded in 2000, and Sarantel is a recent spin-off Symmetricom Sarantel, which has a 20-year history of antenna design. Sarantel has developed products for GPS, Bluetooth and mobile telephone applications, including third-generation mobile phones. TChip developed an RF GPS receiver front end that has a power consumption of only 15 milliwatts–a new low.
Declining demand for consumer electronics, including televisions and cell phones, led to a steep drop in TChip revenues. In response, the company sought to obtain additional cash through debt and equity, however, the recession’s expansion into the equity markets prevented TChip from accessing additional funding.
