Semiconductor Manufacturing International Corporation
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Native name
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中芯国际集成电路制造有限公司 |
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| Public | |
| Traded as | : SMI, : 0981 |
| Industry | Semiconductor |
| Founded | 2000 |
| Founder | Dr. Richard Chang |
| Headquarters | Shanghai, China (incorporated in Cayman Islands) |
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Key people
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Dr. Tzu-Yin Chiu (CEO) |
| Revenue |
 US$1.7 billion (2012) |
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US$36.5 million (2012) |
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US$15.9 million (2012) |
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Number of employees
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9,424 (at 30 April 2011) |
| Website | smics.com |
Semiconductor Manufacturing International Corporation (SMIC) is a semiconductor foundry company headquartered in Shanghai, China. It provides integrated circuit (IC) manufacturing services on 350 nm to 28 nm process technologies. SMIC has wafer fabrication sites throughout mainland China, offices in the United States, Italy, Japan, and Taiwan, and a representative office in Hong Kong. Notable customers include Qualcomm, Broadcom, and Texas Instruments.
SMIC was founded in 2000 by Richard Chang (Traditional Chinese: 張汝京), a Taiwanese-American entrepreneur who had previously worked at Texas Instruments and Taiwan Semiconductor Manufacturing Corporation (TSMC). Under Chang’s leadership, SMIC built its first fab in the Zhangjiang Hi-Tech Park in Shanghai, China, and subsequently expanded its manufacturing operations to other cities in mainland China. SMIC is currently the largest and most advanced semiconductor foundry in mainland China. The company was listed on the SEHK and in 2004.
In October 2007, the United States Government enrolled SMIC in its Validated End User (VEU) program as a trusted customer of regulated U.S. technology, thereby reducing many of the export control barriers for SMIC.
In early 2009, Harvard Business School wrote a case study on SMIC's business model, characterized as a Reverse Build-Operate-Transfer (BOT). The case study found that SMIC is executing a strategy that leverages the desires of municipalities in China to build clusters of high technology companies. By partnering with those cities to build new semiconductor fabs that SMIC would then operate under contract, the company could build scale without necessarily confronting immediate large capital outlays. Unlike the Build-Operate-Transfer model that some municipalities were using to build infrastructure like the new subway in Shenzhen, in the SMIC "Reverse BOT model" a municipality would build a capital intensive fab and SMIC would operate it, sharply lowering its capital costs. This model gave the company a unique level of flexibility in an industry where capital costs were the major driver of product costs.
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