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Paradigm Shift: the Winners Are PARADIGM SHIFT: THE WINNERS ARE Dr. Jeremy Wang Asia Pacific Executive Director, GSA July 30, 2008 GSA Mission Accelerate the growth and increase the return on invested capital of the global semiconductor industry by fostering a more effective fabless ecosystem through collaboration, integration and innovation. GSA Board of Directors Dwight Decker Sanjay Jha Jodi Shelton Danny Biran Rick Cassidy Guillame Aart de Geus Conexant Qualcomm Altera TSMC North d’Eyssautier Synopsys, America picoChip Inc. Jack Harding Colin Harris Kenneth Joyce Fu Tai Liou Steven Longoria Dr. Nicky Lu Chris eSilicon Corp PMC-Sierra, Amkor UMC IBM Etron Malachowsky Inc. Technology, Inc. NVIDIA Vahid Manian Michael Rekuc Walden Rhines Naveed Vincent Tong Dr. Albert Wu Dr. Tien Wu Broadcom Chartered Mentor Graphics Sherwani Xilinx Marvell ASE, Inc. Corporation Open-Silicon Asia-Pacific Leadership Council Chairman Dr. Chintay Shih Xiaolang Yan Ming Kai Tsai H.P. Lin Qin-Sheng Wang K.C. Shih Dr. Nicky Lu Special Advisor College of MediaTek Faraday IC China Semiconductor Global Unichip Etron Information Industry Association Science and Engineering Zhejiang University Special Advisor Gordon Gau Chou-Chye Wen-Chi Chen Dr. Woodward Dr. Zhonghan Dr. Shaojun Wei Holtek Huang VIA Yang (John) Deng Phoenix Sunplus Silicon7 Vimicro Microelectronics Jordan Wu Dr. Ki Soo Lun Zhao Dr. Ping Wu Himax Hwang Datang Spreadtrum Technologies Core Logic, Inc. Microelectronics Communications Inc. EMEA Leadership Council David Milne Jalal Bagherli David Baillie Kobi Ben-Zvi Stan Boland Wolfson Dialog CamSemi Wintegra Icera Microelectronics Semiconductor Warren East Guillame d’Eyssautier Danny Hachoen Gennady Krasnikov Chris Ladas ARM, Inc. picoChip DSP Group Mikron JSC CSR Key Topics •Analog/Mixed Signal •Wireless •Automotive Eric Mayer John Schmitz Infineon NXP Semiconductor VC Advisory Council Wayne Cantwell Steve Domenik Phillip T. Gianos Kenneth P. Lawler Josh Ofstein Vimal Patel Crescendo Ventures Sevin Rosen Funds InterWest Partners Battery Ventures L.P. The Carlyle Group Sierra Ventures Chris Rust Jake Seid Rob Soni Mark Stevens Lip-Bu Tan Ron Yara US Venture Partners LightSpeed Venture Matrix Partners Sequoia Capital Walden International Tallwood Venture Capital Partners Semiconductor Forecasted Growth 2008 2008 Forecasted Company Growth Cowan LRA Model 6.8% Databeans 8.7% Future Horizons 10.0% Gartner Dataquest 3.4% IC Insights 10.0% In-Stat 2.4% Inside Chips -8.0% International Business Strategies 4.0% iSuppli 7.5% Semico 12.0% Source: Company reports Attributes of a Successful Fabless Company: Fabless Revenue Growth Semi Industry Sales % Fabless/WW Semi $300 25% Semi Industry Fabless Industry % Fabless/WW Semi $255.6 20.3% $250 20% With More Foundries Available, Fabless Achieved $204.4 $200 Higher ROI More IDMs Converted to Fabless - Higher Focus on 15% Products $150 ($B) 10% $100 8.3% $52 5% $50 $17 $0 0% 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Source: GSA *Preliminary Results 9 2007 Semiconductor Growth by End Market Wired Communications Industrial/ Cell phones/ 6% Mobile Military 8% 20% Automotive 6% 2007 2007 Cell Phone Shipments Consumer Semiconductor 12% Growth (Units) 20% Industry Growth PC/Computer 40% $267.5B 2007 PC Shipments 11-12% Growth (Units) 2007 MP3/PMP 23% Growth (Units) 2007 Digital TV 50% Growth (Units) Source: GSA Increasing Challenges Pricing Erosion IC Industry Volume and Pricing 32 4 Volume (Billions of Units) Pricing ($) 28 3.5 24 3 20 2.5 16 Pricing ($) 2 12 Volume (Billions of units) 8 1.5 4 1 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Volume is INCREASING; Pricing is DECREASING ($B) $10 $20 $30 $40 $50 $60 $0 1987 $0.4 1988 $0.2 1989 $0.4 1990 $0.7 1991 $0.9 Attributes ofaSuccessfulFablessCompany: W F 1992 $1.3 a W b $0.2 S l 1993 e Sales Industry Fabless e s s 1994 $0.3 m C (1987-2007) i A 1995 $5.9 C G A R 1996 $6.7 G R = 1997 $7.4 = 26 $7.3 1 1998 % 0 1999 $10.2 % Fabless RevenueGrowth 2000 $17.0 2001 $13.3 2002 $14.6 2003 $22.4 2004 $33.4 2005 $39.0 2006 $49.6 2007 $52.0 FABLESS R&D-TO-SALES RATIO (2004-PRESENT) Average R&D-to-Sales R&D-to-Sales ratio at its 30% 27% lowest; sales are at $12.8 billion 25% 22% 21% 20% R&D-to-Sales at its peak; Average R&D-to-Sales has remained sales are at $8.6 billion relatively flat from 2004-present; 15% sales are at $14.2 billion 10% 5% 0% Q1-04 Q3-04 Q1-05 Q3-05 Q1-06 Q3-06 Q1-07 Q3-07 2007 Semiconductor R&D Spending Leaders R&D vs. Sales Ratio 17.9% in 07 & 17.2% in 06 2007 R&D 2007 Business 2006 2007 2007 as % of % of Industry Rank Company Model Region R&D ($M) R&D ($M) Sales*($M) Sales R&D in 2007 1 Intel IDM U.S. 5.873 5.755 35.021 16.4% 12.6% 2 Samsung IDM Korea 3.395 4.263 19.951 21.4% 9.3% 3 TI IDM U.S. 2.195 2.155 13.309 16.2% 4.7% 4 Toshiba IDM Japan 1.755 2.020 11.850 17.0% 4.4% 5 AMD IDM U.S. 1.205 1.847 6.013 30.7% 4.0% 6 STMicroelectronics IDM Europe 1.533 1.802 9.966 18.1% 3.9% 7 Renesas IDM Japan 1.350 1.360 8.001 17.0% 3.0% 8 Broadcom Fabless U.S. 1.117 1.349 3.754 35.9% 3.0% 9 NXP IDM Europe 1.248 1.344 6.026 22.3% 2.9% 10 Qualcomm Fabless U.S. 1.220 1.215 5.619 21.6% 2.7% 11 Freescale IDM U.S. 1.204 1.139 5.447 20.9% 2.5% 12 Infineon** IDM Europe 1.011 1.067 5.772 18.5% 2.3% 13 NEC IDM Japan 1.138 1.043 5.593 18.6% 2.3% 14 Marvell Fabless U.S. 658 989 2.895 34.2% 2.2% 1 TSMC Foundry Taiwan 494 546 9.813 5.6% 1.2% 2 UMC Foundry Taiwan 284 289 3.247 8.9% 0.6% 3 Chartered Foundry Singapore 153 160 1.458 11.0% 0.4% 4 SMIC Foundry China 94 97 1.550 6.3% 0.2% *Semiconductor Sales **Excludes Qimonda, which was spun out of Infineon as an independent memory IC supplier Source: IC Insights Fabless Company Distribution Number of Fabless Companies Worldwide Fabless Geographic Distribution 1,600 Israel 1,400 5% 1,350 1,400 1,300 1,250 1,200 1,100 1,000 950 850 Asia North 800 750 34% th America row 48% 600 G 500 0% 18 400 200 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 Europe 13% Increasing Challenges Reduction in VC Funding Fabless Fundings by Year & Round A $3,000 Round A Higher Rounds $2,500 $2,000 $1,759 37 $1,500 22 41 42 33 43 32 Deals Deals Deals Deals Deals Deals Deals $2,036 $1,000 $1,607 $1,707 $1,607 $1,506 $1,493 $1,444 $500 $867 $466 $376 $208 $188 $176 $192 $181 $0 2000 2001 2002 2003 2004 2005 2006 2007 The number of Round A funding deals have decreased nearly 64% from 2000-2007 110 fabless companies received $1.8B in VC funding in 2007 — a -6% YoY dollar-amount decrease. Source: GSA Return on Equity Average Return on Equity (ROE) of Top 25 Fabless & IDM Companies (2000-2007) 25 21.6 19.5 IDM Fabless 20 16.8 15.4 15 10.9 8.9 10 8.5 8.6 5 (%) 2.5 0.5 1.2 0 -0.9 -0.2 -5 -6.6 -7.1 -10 -10.4 -15 2000 2001 2002 2003 2004 2005 2006 2007 Source: GSA Top 25 Suppliers of Semiconductor Worldwide in 2007 (Ranking by Revenue in US$ B) 2006 2007 2006 2007 Percent 2006 2007 2006 2007 Percent Rank Rank Company Revenue Revenue Change Rank Rank Company Revenue Revenue Change 1 1 Intel 31.5 33.9 7.8 % 10 14 Freescale 5.6 5.3 -6.3 % 2 2 Samsung 19.9 19.7 -0.8 % 13 15 Micron 5.2 4.9 -7.2 % 3 3 TI 12.6 12.3 -2.6 % 12 16 Qimonda 5.4 4.0 -26.0 % 4 4 Toshiba 10.1 12.2 20.2 % 19 17 Elpida 3.5 3.8 8.8 % Memory 5 5 STMicroel 9.9 10.0 1.5 % ectronics 17 18 Matsushita 4.0 3.8 -5.5 % 7 6 Hynix 7.9 9.0 15 % 18 19 Broadcom 3.7 3.7 2.1 % 6 7 Renesas 7.9 8.0 1.3 % 25 20 NVDIA 2.6 3.5 34.4 % 14 8 Sony 5.1 8.0 55.5 % 20 21 Sharp 3.3 3.4 1.8 % 15 9 Infineon 5.1 6.2 21.1 % 21 22 IBM 3.2 3.0 -6.1 % 8 10 AMD 7.5 5.9 -21.2 % 26 23 Marvell 2.6 2.8 8.9 % 9 11 NXP 5.7 5.7 0.7 % 23 24 Analog 2.6 2.7 4.0 % 11 12 NEC 5.6 5.7 2.5 % 22 25 Rohm 2.9 2.6 -8.6 % 16 13 Qualcom 4.5 5.6 24.1 % Other 82.4 83.0 0.8 % m Companies Total Revenue 260.36 268.9 3.3 % Source :iSuppli Corp.
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