FPT Semiconductor, under FPT Software and a member company of FPT Corporation, launched its first line of semiconductor chips on Wednesday.
FPT Semiconductor targets to supply 25 million chips globally by 2023 in seven types to meet diverse needs such as telecommunications, the Internet of Things (IoT), automotive technology, energy, and electronics.
Tran Dang Hoa, COO of FPT Software and chairman of FPT Semiconductor, said they are proud that the whole research and development process is conducted by FPT Software’s leading engineers in Vietnam.
“The launch of FPT Semiconductor is a testament to Vietnamese intelligence as well as our commitment to continue seeking areas to grow, bringing technological advancement to the business community,” said Hoa.
FPT Semiconductor released its first integrated circuits (ICs) in August 2022, which they will use in IoT medical devices. The ICs were designed in Vietnam and manufactured in South Korea.
Nguyen Vinh Quang, founder and CEO of FPT Semiconductor, said they look forward to contributing to the development of the fast-growing semiconductor industry in Vietnam and Asia on a broader scale.
“FPT Semiconductor looks to become the chip supplier of choice for businesses in Vietnam and further in Japan, Korea, Taiwan, China, the United States, and Europe.”
Beyond the new semiconductor portfolio, the CEO and COO of FPT Software spoke about their intentions to take advantage of its “global presence and years of experience across various domains” and deliver “tailor-made solutions” to its customers.
Global semiconductor makers have in recent years been betting on Vietnam’s potential, already a major regional manufacturing hub, as an alternative production destination to China.
Earlier this year, Samsung was reported to make semiconductor parts in Vietnam in July 2023 after injecting $920 million into its plant in the northern province of Thai Nguyen. Not only that, Intel boosted its Vietnam chip investment by nearly 50% in 2021.
Vietnam’s total chip production has the potential to grow into a $1.65 billion industry by 2025, according to an August report by US market research company Technavio.