Exhibit 99.1 Silicon Motion Announces Results for the Period Ended March 31, 2024 NEWS RELEASE Business Highlights • First quarter of 2024 sales decreased 6% Q/Q and increased 53% Y/Y • SSD controller sales: 1Q of 2024 increased 0% to 5% Q/Q and increased 35% to 40% Y/Y • eMMC+UFS controller sales: 1Q of 2024 decreased 10% to 15% Q/Q and increased 235% to 240% Y/Y • SSD solutions sales: 1Q of 2024 decreased 5% to 10% Q/Q and decreased 30% to 35% Y/Y Financial Highlights | --- | --- | --- | --- | |-------|-- ...