FPT Semiconductor, a subsidiary of Vietnamese tech giant FPT, has officially launched its first line of integrated circuit (IC) chips indicated for use in medical equipment, a move that it hopes will push Vietnamese products into the forefront of the competitive global industry.

FPT Semiconductor debuted its first IC chips, which were designed in Vietnam and manufactured in South Korea, in August 2022, for use in Internet of Things (IoT) medical devices, the company announced in a press release on Wednesday.

The company is currently coordinating with partners to distribute its 'Make-in-Vietnam' chips to markets in Australia, Taiwan, and mainland China.

By next year, FPT Semiconductor plans to supply 25 million chips globally to meet diverse needs in telecommunications, IoT, automotive technology, energy, electronics, with Japan, Taiwan, China, and the United States targeted as its key markets.

Aside from providing 'Make-in-Vietnam' chips to foreign markets, FPT aims to become a leading supplier to domestic enterprises, a move that it hopes will help complete the supply chain for Vietnamese companies in need of manufacturing equipment between 2023 and 2025.

Vietnam’s semiconductor industry size is estimated to exceed US$6.16 billion by 2024, FPT Semiconductor said, citing a recent report by U.S. market research company Technavio.

With the mantra 'Chips Made in Vietnam, Made by FPT,' the company is developing and commercializing its chips for both domestic and international markets, including Japan, South Korea, Taiwan, the U.S., Europe, and China, said Nguyen Vinh Quang, CEO of FPT Semiconductor. 

As an essential component in electronic devices, integrated semiconductor microchips determine work performance and remarkably influence the cost of all electronic systems, the company said.

Production of integrated semiconductor IC chips has become the mainstay for the development of electronic systems in the context that businesses all over the world are racing to digital transformation and developing their device ecosystems, FPT Semiconductor said in the media release.

Organizations and enterprises in Vietnam’s semiconductor chip industry are mainly concentrated within technical universities or foreign firms that invest in manufacturing plants, according to the company.

Hanoi-based FPT Semiconductor is a chip design and manufacturing company owned by FPT Software, a member company of Vietnam’s tech giant FPT Group.

With a total workforce of over 26,000 people in 27 countries and territories, FPT Software provides comprehensive technology services for over 1,000 global customers, including more than 100 Fortune Global 500 companies, the press release said.

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