The single-vendor decision proved costly when Intel, in the words of then MKM Partners analyst Michael Genovese, failed to deliver a low-cost 10-nanometer product (referring to the size of the transistors in the chip). That story surfaced back in 2019 when it emerged that Nokia, under previous management, had picked Intel as the only silicon supplier for its forthcoming 5G basestations. The explanation is largely down to one big customer – Nokia – and the opportunity that arose when the Finnish equipment maker was let down by Intel, a Marvell competitor. 'It's exciting to see the step-up in our 5G business, and we expect additional growth over the next several years as 5G adoption continues to grow around the globe,' said Murphy.įinancial analysts are intrigued, perhaps because 5G has not brought such dramatic gains for other firms. If it delivers, Marvell would be looking at carrier infrastructure sales of no less than $243 million for the final quarter.

Murphy anticipates a 30% increase in 5G sales this quarter, boosting overall growth at the carrier infrastructure unit to more than 40% year-on-year and at least 13% sequentially. Inside a fab owned by TSMC, which makes chips for Marvell

'Growth was driven by our 5G products ramping at multiple customers,' said CEO Matt Murphy on a call with analysts. Selling the chips that go into carrier networks, it recorded $215 million in revenues for the recent third quarter – a dramatic year-on-year improvement of 28%. Reporting third-quarter figures this week, it recorded a 61% year-on-year increase in revenues, to more than $1.2 billion, thanks partly to this year's $1.1 billion acquisition of Innovium, another data center chips developer.īut the company's smallish carrier infrastructure unit, accounting for less than a fifth of sales, is now attracting much of the investor attention. The American chip designer has been on a sales tear fueled by takeover activity and growth at its main data center business. Marvell Technology is a different story altogether. Service providers usually fare even worse. Giant equipment vendors are lucky to report a single-digit-percentage increase.

The wave of excitement that first greeted 5G has not been matched by sales growth for most of its stakeholders.

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