Dr. Daniel A. Baker, NVE's CEO commented in NVE's conference call: "On July 10 Freescale announced that the first commercial MRAM device was in volume production. This is an impressive accomplishment by a talented Freescale team, and we congratulate them. It is also gratifying for Dr. Jim Daughton, our founder and an MRAM pioneer who made many inventions in the field and had a vision for MRAM...."
"We are proud NVE's role in MRAM's development and we look forward to a bright future. Based on a preliminary analysis, we believe Freescale's MRAM comes within the scope of claims in a number of NVE patents. We hope to negotiate a mutually beneficial agreement with Freescale to give them access to NVE intellectual property without having to resort to litigation. As we have said before, we cannot predict the possible timing of agreements, but we are confident of the strength of NVE's MRAM inventions and patent portfolio."