Sequans and Foxconn Subsidiary Socle Form LTE for IoT Strategic Partnership

Collaboration to expand Sequans' portfolio of SoC products optimized for various IoT applications

PARIS, Jan. 11, 2016 – LTE chipmaker Sequans Communications S.A. (NYSE: SQNS) and system-on-chip designer Socle Technology Corp., a fully-owned subsidiary of Foxconn, the world's largest electronics manufacturer, announced a strategic partnership to address the global market for the LTE-enabled Internet of Things (IoT). The purpose of the partnership is to bring to market specialized and highly integrated system-on-chip (SoC) LTE solutions to address the wide range of IoT/M2M applications that require wireless LTE connectivity.

With Sequans' leading LTE technology and Socle's SoC expertise and rich IP portfolio, the two parties will develop a family of LTE SoC solutions meeting the low power, low cost, processing, and interface requirements of a wide variety of M2M and IoT applications. The resulting solutions will be used by Sequans to expand its StreamliteLTE family of chipset products and by Foxconn to serve their IoT customers. The first product is expected to sample in 2016.

Socle is a leading provider of customized SoC solutions for Foxconn customers making tablets, smartphones and IoT devices. Sequans is a leader in LTE for IoT chipsets and is developing solutions supporting 3GPP Release 13 category M (CAT M) and NB-IoT capabilities. Sequans was the first to introduce an IoT-optimized category 1 (CAT 1) LTE chipset that is available now and deploying on existing LTE networks.

"Socle is an expert in SoC design, and we expect this partnership to yield a family of highly integrated solutions optimized for a variety of IoT segments," said Georges Karam, CEO, Sequans. "I believe we have a compelling strategy, combining best-in-class technologies and access to new markets with privileged access to Foxconn IoT customers."

"Sequans is the leader in LTE for IoT chipsets, and we are pleased to establish this alliance," said Stone Peng, president, Socle Technology Corp. "Our collaboration will allow us to bring best-in-class IoT-optimized LTE solutions to market quickly and to be very responsive to market needs as the LTE for IoT market continues its rapid development."

About Socle Technology Corp.

Socle Technology Corporation provides platform system on chip (SoC) solutions and IC design services. Its services include platform SoC services that comprise prototyping, chip design, and system design; SoC-ImP, a design implementation platform for a time-to-market and first-cut-work driven SoC implementation; intellectual property products to facilitate SoC development; and turnkey services ranging from wafer sort, assembly process, final test, and packaging to delivery. www.socle-tech.com.tw

About Sequans Communications

Sequans Communications S.A. (NYSE: SQNS) is a 4G chipmaker and leading provider of single-mode LTE chipset solutions to wireless device manufacturers worldwide. Founded in 2003, Sequans has developed and delivered six generations of 4G technology and its chips are certified and shipping in 4G networks, both LTE and WiMAX, around the world. Today, Sequans offers two LTE product lines: StreamrichLTE™, optimized for feature-rich mobile computing and home/portable router devices, and StreamliteLTE™, optimized for M2M devices and other connected devices for the Internet of Things. Sequans is based in Paris, France with additional offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Taiwan, South Korea, and China. Visit Sequans online at www.sequans.com.

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