two fabs, FAB22 (4-inch) and FAB23 (6-inch). In 1964, Fairchild began to muscle its way into the IC business. Since Signetics circuits were the de facto standard in the market, Fairchild decided to copy them. However, it used its superior cash position, marketing power, and manufacturing strength to undercut its competitor by slashing prices and flooding the market. Signetics was struggling to compete, and began losing money again. Corning saw this as proof of poor management, and used its controlling interest to drive out most of the founders and take complete control of the company. Signetics managed to stabilize and become profitable again, but it never regained its market leadership, which was now firmly held by Fairchild. Its engineers continued to innovate in IC technology, and remained a significant force. Around 1971, the Signetics introduced the innovative 555 timer IC, which it called "The IC Time Machine". This was the first and only low-cost commercial IC timer available at the time, and soon became a best-seller. Signetics was known for creating innovative ICs for both analog electronics and the rapidly-growing digital electronics applications. In 1975, the company was acquired by Philips, who continued the brand for some years. In the United States, Signetics reached its manufacturing height at around 1980. Later it was fully integrated into Philips Semiconductors (now NXP). In 1995, Philips spun off the assembly and test operation in South Korea, which was started by Signetics in 1966, as an independent subcontract service provider. They continue to use the name "Signetics". Since 2000, the Signetics brand is primarily used by the Young Poong Group. Notable devices Signetics introduced a number of innovative analog and digital integrated circuits which became de facto standard products widely used in mass-produced electronics. Freely-distributed application notes published by Signetics were key in educating students and practicing engineers in the usefulness and simplicity of their ICs. Some designs remain iconic and are still used today in basic electronics lab exercises. The Signetics 555 timer IC was probably their best-known new product. Still widely manufactured and used today in original and updated versions, the basic design appears in many simple electronic timers, oscillators, and other basic electronic systems. The Signetics NE565 was an pioneering implementation of powerful phase-locked loop technology in an IC, which along with the voltage-controlled oscillator (VCO) NE566, helped advance digital communications. The Signetics 2650 was an 8-bit microprocessor introduced in the