關鍵字:銳迪科 跨國IC公司
銳迪科是在2004年成立,并于2010年11月在美國納斯達克(Nasdaq)上市,是一家蜂巢式網(wǎng)絡與寬頻通訊應用RF、混合訊號芯片的無晶圓廠IC設 計業(yè)者,主要供應中國本土手機制造廠。戴保家引述市場研究機構 IHS iSuppli 的統(tǒng)計數(shù)據(jù)表示,銳迪科已經(jīng)在中國白牌產(chǎn)品市場取得功率放大器、藍牙芯片、FM與DVB-S調諧器芯片(tuner)的領先市占率。
戴保家指出,雖然銳迪科要達到與博通(Broadcom)等國際大廠同等地位,還有一段很長的路要走,但該公司在中國市場的領導地位是一大優(yōu)勢。他表示,有 越來越高的趨勢顯示像是銳迪科這樣的公司將會主導全球電子產(chǎn)業(yè),而事實上包括ADI、TI等跨國公司都已經(jīng)退出中國的基頻芯片市場,目前該市場是由聯(lián)發(fā)科 (MediaTek)與晨星(MStar)兩家臺灣芯片廠商,藉由與中國市場的關系而崛起。
甚至戴保家大膽預測,跨國芯片公司還能在中國市場混的日子已經(jīng)不多了,特別是在手機與機頂盒應用領域。“這是因為中國產(chǎn)業(yè)供應鏈無法讓你擁有五成的毛利;”他表示,中國有完整的晶圓代工、IC設計與封測業(yè)者,還有系統(tǒng)廠商所構成的產(chǎn)業(yè)生態(tài)系統(tǒng):“你必須是本土廠商才能繼續(xù)玩下去。”
戴保家列舉了四條中國市場生存法則:
第一,中國手機市場的產(chǎn)品生命周期特別短,當中國以外的廠商花六個月的時間(或是像Nokia是花一年)設計出一款新手機,中國手機市場則是每三個月就會推出新機種。
第二,中國手機市場提供給芯片供貨商的有關市場需求信息非常少,因此芯片供貨商必須“與市場密切接觸”才能在市場需求高峰期準備就緒,速度是一大關鍵:“你需要能夠與中國市場的高低起伏保持一致。”戴保家表示。
第三,中國市場的芯片廠商必須要能在較低的毛利下存活;戴保家指出,很多中國本土芯片廠商能在35%的毛利率之下生存,然后達成20%的營業(yè)利潤,但大多數(shù)的跨國芯片公司如果要達成相同的營業(yè)利潤,通常需要50~55%的毛利:“這樣無法與本地廠商競爭。”
第四,中國的系統(tǒng)產(chǎn)品供貨商技術水準較低,需要芯片供貨商更多的支持;臺灣的聯(lián)發(fā)科能取得成功,就是歸功于該公司能提供中國系統(tǒng)廠商完整解決方案。
戴保家表示,跨國公司往往是以100個工程師的團隊規(guī)模,每隔六個月開發(fā)出一款新系統(tǒng):“我們看到的中國系統(tǒng)廠商則是每三個月就推出一款新產(chǎn)品,而且只用了 5~10個人:‘這是非常具破壞性的。’而且外商不只產(chǎn)品升級慢,對客戶的抱怨也反應遲緩:“我能立即就派人到客戶那邊,快速診斷問題所在,但跨國公司的核心研發(fā)團隊可能在美國,只能透過電子郵件往返來解決問題。”
而戴保家也指出,很多西方觀點都認為中國公司的優(yōu)勢在于成本,事實上他們也應該要注意到中國芯片供貨商與系統(tǒng)廠商在本土市場的靈活性:“我們是本地廠商,核心研發(fā)團隊就在這里,也有應用工程師在這里,我們比跨國公司擁有更多的優(yōu)勢。”
銳迪科2011年度營收達到了創(chuàng)紀錄的2.889億美元,較2010年的1.912億美元成長51.1%;2011年毛利率為34.5%,較2010年的 29.8%也有所增加。在2012年第一季,銳迪科營收為7,200萬美元,當季毛利率35.9%,營業(yè)利潤20%;該公司有1.43億美元現(xiàn)金、無貸款,現(xiàn)有320名員工。
Four reasons why its 'game over' for foreign chip firms in China
Junko Yoshida
Multinational semiconductor companies are no longer able to compete with Chinese fabless chips vendors in the consumer electronics IC business, according to Vincent Tai (shown), CEO of RDA Microelectronics.
SHANGHAI, China – Multinational semiconductor companies are no longer able to compete with China’s fabless chips vendors in the consumer electronics IC business, according to Vincent Tai, CEO of RDA Microelectronics Inc. “It’s game over” for them, Tai asserted in a recent interview with EE Times here.
RDA Microelectronics, founded here in 2004 and listed on the Nasdaq exchange since November 2010, is a leading Chinese fabless IC vendor supplying RF and mixed-signal chips for cellular and broadcast communications used by China handset manufacturers.
RDA is a major supplier to the Chinese mobile handset market. Tai, quoting IHS iSuppli estimates, claimed RDA already has the leading market share in power amplifiers, Bluetooth, FM tuners and DVB-S tuners for the domestic white label market.
Still, RDA has a long way to go to compete with the likes of Broadcom in the global semiconductor market. Still, according to Tai, being a leader in the Chinese market is a good place to be.
RDA’s enviable position foreshadows a growing trend here for companies like RDA to dominate global electronics markets, Tai noted. As evidence, he cited the fact that multinationals such as Analog Devices and Texas Instruments backed out of China’s baseband chip business. While technically not Chinese companies, MediaTek and MStar, two Taiwanese giants, grabbed that market by leveraging their Chinese ties.
Indeed, Tai boldly predicts that the days for multinational chip companies are numbered, especially in the Chinese mobile handset and set-top box markets. “It’s because the supply chain in China can’t allow you to have a 50 percent gross margin,” he explained.
When the entire ecosystem of foundries, design houses along with packaging and system OEMs resides here, “You need to be a local to play the game,” said Tai.
The RDA chief described four rules for surviving in the Chinese market:
Rule #1: The “cycle time” for Chinese handset manufacturers is extremely short. While it takes six months (or a year in the case of Nokia) to design a new mobile handset outside China, Chinese cellphone makers are spinning out new models every three months.
Rule #2: Chinese handset vendors provide chip suppliers will little information about market demand. Therefore, chip suppliers need to be “in touch with the market,” said Tai, so they can be ready when market demand spikes. Speed is the key. “You need to be able to live with the ups and downs on the China market,” he said.
Ground truth
Rule #3: Chip makers must survive on lower gross margins. Many local chip companies can live with a 35 percent gross margin in order to achieve a 20 percent operating margin, said Tai. But for most multinational chip companies to achieve the same 20 percent operating margin, they need a 50 to 55 percent gross margin. “That’s no match with the locals.”
Rule #4: System vendors in China are less technical. Hence, they require more hand-holding. The success of Taiwan’s MediaTek here can be attributed to the turnkey solutions it offers Chinese system companies.
Tai said multinational companies retain a model that requires100 engineers to develop a new system every six months. “We are seeing Chinese system guys pump out a new product every three months with just five to 10 people.” Tai said, “That’s very disruptive.”
Foreign companies are not only slow to upgrade their products but also are slow to respond to customer complaints. “I can send someone to my customer’s site right away and do quick diagnostics,” he said. “A multinational’s core R&D team is still in the United States, and it takes more than a few e-mails back and forth to solve problems.”
Many in the West focus on the cost advantages of Chinese companies. Instead, they should be focusing on the agility of Chinese chip vendors and system companies in their domestic market. As Tai noted, “I am local. I have a core R&D team here, and I have field application engineers here. I have a huge advantage” over multinationals.
RDA increased its annual revenue in 2011 by 51.1 percent to a record $288.9 million, compared to $191.2 million in the previous year. The company’s gross margin was 34.5 percent compared to 29.8 percent in 2010. In the first quarter in 2012, RDA’s revenues totaled $72 million, with a gross margin of at 35.9 percent and a 20 percent operating margin. The company has $143 million in cash and no debt. It currently employs 320 workers.