Fairchild Semiconductor (now owned by ON Semiconductor Corporation since 2016) was founded in 1920 by American entrepreneur and inventor Sherman Fairchild. The company invented the transistor and attracted many talented young scientists to join. Today, the company is one of the world's leading semiconductor technology providers, focusing on solving the industry's biggest challenges of reducing energy waste and increasing efficiency in an increasingly energy-constrained world. Its products include power switch kits, power MOSFETs, IGBTs, rectifiers, PWM ICs, PFC ICs, HVICs, optocouplers, voltage references, and LDO regulators, which optimize energy consumption in power, mobile, lighting, motor, computing, consumer, and automotive applications, improving efficiency and reducing standby power consumption, size, and cost.