A brief overview is given on selected effects of the exchange coupling between effective mass electrons and localized spins in II-VI semiconductors containing Mn ions. In the case of a carrier or exciton trapped by an im- purity or defect, the exchange interaction leads to zero-field spin-splitting. The current theory of such complexes, known as bound magnetic polarons, Describes correctly their spectroscopic and thermodynamic properties as well As their formation dynamics.
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