In order to enter the booming semiconductor market, FPT Software, the top ICT company in Vietnam, has established a new subsidiary called FPT Semiconductor.
FPT Software aims to capture a significant portion of Asia Pacific’s semiconductor market, which represents 60% of the global sales. In August 2022, FPT Semiconductor released its first integrated circuits (ICs), which were developed in Vietnam and produced in the Southof Korea. These integrated circuits (ICs) will be employed in IoT medical devices. FPT Semiconductor intends to deliver 25 million chips in seven different varieties by 2023 to meet demand from sectors such as electronics, automotive technology, energy, and telecommunications.
Vietnam’s semiconductor industry is expected to generate more than USD 6.16 billion in revenue by 2024, according to a Technavio report. FPT Semiconductor targets to supply Vietnamese businesses and enterprises, as well as clients in Japan, Korea, Taiwan, China, the US, and Europe.
FPT Software entered the semiconductor market to produce chips 23 years after dominating Vietnam’s IT services and solutions.
Anoter notable player with presence in Vietnam include Intel, which recently committed to spend USD 475 million to build a cutting-edge microelectronics testing and assembly facility in the Southeast Asian country.
(Source: Techwire Asia, VietnamPlus)