Conexant itself then spun off several business units, creating independent public companies which included Skyworks Solutions and Mindspeed Technologies.

[3] In March 2002, Conexant entered into a joint venture agreement with The Carlyle Group to share ownership of its wafer fabrication plant, called Jazz Semiconductor.

[4] In June 2002, Conexant spun off its wireless communications division, which merged immediately following the spinoff with Massachusetts-based chip manufacturer Alpha Industries Inc. to form publicly held Skyworks Solutions Inc.[5] In June 2003, Conexant spun off its Internet infrastructure business to create the publicly held company Mindspeed Technologies Inc.[6] Mindspeed would eventually be acquired by M/A-COM Technology Solutions, based in Lowell, Massachusetts.

[10] In August 2009, Conexant sold its broadband access product line to Fremont, California, semiconductor company Ikanos Communications.

As part of the operational restructuring, the company moved its headquarters from Newport Beach to nearby Irvine, and focused on a narrower product portfolio, consisting of far-field voice input processing-based devices, video surveillance and printer systems on a chip (SoCs).

Based on the Conexant AudioSmart™ CX20921 Voice Input Processor, the dual microphone board was designed to reduce time-to-market for new third-party voice-enabled Alexa devices.

[17] On May 11, 2017, news appeared that security researchers discovered that Conexant's audio drivers were installing keylogger software, including many laptops sold by HP.