08:52 AM EDT, 04/05/2024 (MT Newswires) -- GCT Semiconductor Holding ( GCTS ) said Friday that it has signed a memorandum of understanding with Aramco to further develop Saudi Arabia's 4G/5G ecosystem for mission-critical and public safety networks.

Financial details were not disclosed.

GCT said the collaboration aims to design and co-develop chipsets and modules tailored for Saudi Arabia's LTE, 5G, and NTN networks in support of wireless end-user devices and Internet of Things manufacturing.

Shares of GCT were up nearly 90% in recent Friday premarket activity.

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