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Findings
IC 50 demonstrates rise of Asia's semiconductor industry
Asia dominates the semiconductor manufacturing sector with leading companies, Samsung, TSMC and SK Hynix. Based on the IC 50 ranking, conducted by DIGITIMES Asia in 2022, we have summed up the following key findings:

Finding 1: East Asia is the hub of semiconductor manufacturing
Top semiconductor companies in East Asia mainly include foundries, assembly and testing, memories, wafers, and IC substrates

Finding 2: China, Japan, and Korea surpass Taiwan in revenue growth
Taiwan's semiconductor industry made a record high in 2020. Since the very high base period, Taiwan had moderate growth in 2021

Finding 3: China's semiconductor companies getting robust
Three China-based semiconductor companies, SMIC, JCET Group and Will Semiconductor, have reigned in the top 11-20

Companies in IC 50 ranking mostly come from Taiwan

The contribution of the top 3 companies to the total revenue of IC 50 companies

The Singaporean semiconductor equipment company, Kulicke & Soffa Industries has the highest growth

The only company in IC 50 that has over 40% profit margin

Ranks
Revenue
2021 Rank2020 RankCompany/Business UnitCountryIndustry2021 Revenue ($M)2020 Revenue ($M)Revenue Growth
11Samsung Electronics/Device Solutions, excluding DPSouth KoreaIDM79,20361,28529.2%
22TSMCTaiwanFoundry57,36148,39418.5%
33SK HynixSouth KoreaIDM36,16826,83334.8%
44MediaTekTaiwanFabless17,83011,64153.2%
55Tokyo Electron/Semiconductor Production EquipmentJapanSemiconductor Equipment15,72710,50149.8%
67KioxiaJapanIDM12,40410,10922.7%
76ASE Technology Holding/Packaging, TestingTaiwanPackaging & Test12,09810,12919.5%
88Sony/Imaging and Sensing SolutionsJapanIDM9,1558,7904.2%
910RenesasJapanIDM8,6416,21938.9%
109UMCTaiwanFoundry7,6976,38920.5%
1112SMICChinaFoundry5,4433,90639.4%
1213Rohm/ICs, Discrete Semiconductor DevicesJapanIDM4,9403,61936.5%
1314Novatek MicroelectronicsTaiwanFabless4,8912,88969.3%
1411JCET GroupChinaPackaging & Test4,7994,16415.3%
1515Realtek SemiconductorTaiwanFabless3,8122,81035.7%
1622Winbond ElectronicsTaiwanIDM3,5982,19364.1%
1717Will Semiconductor/Semiconductor Design and SalesChinaFabless3,2062,71718.0%
1821Nanya TechnologyTaiwanIDM3,0932,20440.3%
1916Powertech TechnologyTaiwanPackaging & Test3,0282,75310.0%
2018Sumco CorporationJapanWafers2,9172,53215.2%
2119Kyocera/Semiconductor ComponentJapanIC Substrate2,7492,39015.0%
2223SCREEN Holdings/Semiconductor Production Equipment BusinessJapanSemiconductor Equipment2,6042,03328.1%
2326TongFu MicroelectronicsChinaPackaging & Test2,4881,69446.8%
2427Powerchip Semiconductor ManufacturingTaiwanFoundry2,3711,65143.6%
2528Advantest/Semiconductor & Component Test SystemsJapanSemiconductor Equipment2,3641,62045.9%
2624GlobalwafersTaiwanWafers2,2092,00010.4%
2720Wintech Technology/Semiconductor BusinessChinaIDM2,1722,339-7.2%
2829Unimicron Technology Corp/CarrierTaiwanIC Substrate2,0781,49339.2%
2931Disco CorpJapanSemiconductor Equipment2,0471,44641.5%
3025Mitsubishi Electric/Electronic DeviceJapanIDM2,0461,76615.8%
3134Ibiden Co LtdJapanIC Substrate1,9651,33547.2%
3236Tianshui Huatian Technology/IC Packaging & TestChinaPackaging & Test1,8741,29544.7%
3332Macronix InternationalTaiwanIDM1,8271,43827.1%
3442ASM Pacific Technology/Semiconductor SolutionsSingaporeSemiconductor Equipment1,7331,02269.6%
3544Hua Hong SemiconductorChinaFoundry1,62696868.0%
3643LX SemiconSouth KoreaFabless1,59797763.4%
3738Vanguard International SemiconductorTaiwanFoundry1,5881,19732.7%
3833SK SiltronSouth KoreaWafers1,5561,4318.8%
3948Himax TechnologiesTaiwanFabless1,54788774.4%
4035Sanken ElectricJapanIDM1,5291,31416.4%
4145NAURA TechnologyChinaSemiconductor Equipment1,52395359.9%
42Kulicke & Soffa IndustriesSingaporeSemiconductor Equipment1,518623143.7%
4337Fuji Electric/SemiconductorJapanIDM1,4791,25118.3%
4439China Resources MicroelectronicsChinaIDM1,4551,09832.6%
4530Samsung Electro-Mechanics Co Ltd/SubstrateSouth KoreaIC Substrate1,4111,482-4.8%
46Gigadevice Semiconductor BeijingChinaFabless1,33970789.3%
4741King Yuan ElectronicsTaiwanPackaging & Test1,2201,04616.6%
4847WONIK IPSSouth KoreaSemiconductor Equipment1,03791813.0%
49DB HiTekSouth KoreaIDM1,02278729.8%
50Kinsus Interconnect Technology Corp/IC substrateTaiwanIC Substrate1,00276630.8%
2021 Rank2020 RankCompany/Business UnitCountryIndustry2021 Revenue ($M)2020 Revenue ($M)Revenue Growth
Operating Profit
2021 Rank2020 RankCompany/Business UnitCountryIndustry2021 Operating Profit ($M)2020 Operating Profit ($M)Operating Profit Change ($M)
12Samsung Electronics/Device Solutions, excluding DPSouth KoreaIDM24,56115,8188,743
21TSMCTaiwanFoundry23,48220,4793,002
33SK HynixSouth KoreaIDM10,4394,2166,223
44Tokyo Electron/Semiconductor Production EquipmentJapanSemiconductor Equipment5,2282,7792,449
55MediaTekTaiwanFabless3,9041,5622,342
67ASE Technology Holding/Packaging, TestingTaiwanPackaging & Test1,9311,013918
710UMCTaiwanFoundry1,8687951,072
813Novatek MicroelectronicsTaiwanFabless1,7265341,192
911RenesasJapanIDM1,5955661,030
1017KioxiaJapanIDM1,4353381,097
106Sony/Imaging and Sensing SolutionsJapanIDM1,4351,41619
1220SMICChinaFoundry1,3933121,081
139Will Semiconductor/Semiconductor Design and SalesChinaFabless1,215863353
1422Nanya TechnologyTaiwanIDM982305678
1514Advantest/Semiconductor & Component Test SystemsJapanSemiconductor Equipment825471354
168Wintech Technology/Semiconductor BusinessChinaIDM807920-113
1732Powerchip Semiconductor ManufacturingTaiwanFoundry726208518
1815Disco CorpJapanSemiconductor Equipment692412280
1944Winbond ElectronicsTaiwanIDM66659607
2012GlobalwafersTaiwanWafers63955287
2119Realtek SemiconductorTaiwanFabless626312314
2245Himax TechnologiesTaiwanFabless54558487
2321Rohm/ICs, Discrete Semiconductor DevicesJapanIDM533307226
2416Powertech TechnologyTaiwanPackaging & Test525387138
2525Vanguard International SemiconductorTaiwanFoundry510268242
2628JCET GroupChinaPackaging & Test499228271
2723Tianshui Huatian Technology/IC Packaging & TestChinaPackaging & Test470289181
2833SCREEN Holdings/Semiconductor Production Equipment BusinessJapanSemiconductor Equipment454179275
2918Sumco CorporationJapanWafers448329119
3027Ibiden Co LtdJapanIC Substrate436229206
31Kulicke & Soffa IndustriesSingaporeSemiconductor Equipment41259354
3230Macronix InternationalTaiwanIDM400212188
3342ASM Pacific Technology/Semiconductor SolutionsSingaporeSemiconductor Equipment38888300
3429Kyocera/Semiconductor ComponentJapanIC Substrate350215135
35Gigadevice Semiconductor BeijingChinaFabless337146191
36DB HiTekSouth KoreaIDM336201134
3736China Resources MicroelectronicsChinaIDM330145185
3847Hua Hong SemiconductorChinaFoundry3127305
3943LX SemiconSouth KoreaFabless31179232
4035King Yuan ElectronicsTaiwanPackaging & Test23916871
4131SK SiltronSouth KoreaWafers23721027
4239Fuji Electric/SemiconductorJapanIDM221106114
4340NAURA TechnologyChinaSemiconductor Equipment1879889
4446TongFu MicroelectronicsChinaPackaging & Test1495792
4538WONIK IPSSouth KoreaSemiconductor Equipment13811820
4650Sanken ElectricJapanIDM107-13120
4741Mitsubishi Electric/Electronic DeviceJapanIDM94930
Unimicron Technology Corp/CarrierTaiwanIC Substrate---
Kinsus Interconnect Technology Corp/IC substrateTaiwanIC Substrate---
Samsung Electro-Mechanics Co Ltd/SubstrateSouth KoreaIC Substrate---
2021 Rank2020 RankCompany/Business UnitCountryIndustry2021 Operating Profit ($M)2020 Operating Profit ($M)Operating Profit Change ($M)
*The hyphen mark indicates the companies not reporting operating profit of its semiconductor segment
Operating Margin
2021 RankCompany/Business UnitCountryIndustry2021 Operating Margin2020 Operating MarginPercentage Point Change
1TSMCTaiwanFoundry40.9%42.3%-1.4
2Will Semiconductor (Semiconductor Design and Sales)ChinaFabless37.9%31.8%6.2
3Wintech Technology (Semiconductor Business)ChinaIDM37.2%39.3%-2.2
4Novatek MicroelectronicsTaiwanFabless35.3%18.5%16.8
5Himax TechnologiesTaiwanFabless35.2%6.5%28.7
6Advantest (Semiconductor & Component Test Systems)JapanSemiconductor Equipment34.9%29.1%5.9
7Disco CorpJapanSemiconductor Equipment33.8%28.5%5.3
8Tokyo Electron (Semiconductor Production Equipment)JapanSemiconductor Equipment33.2%26.5%6.8
9DB HiTekSouth KoreaIDM32.9%25.6%7.3
10Vanguard International SemiconductorTaiwanFoundry32.1%22.4%9.7
11Nanya TechnologyTaiwanIDM31.8%13.8%17.9
12Samsung Electronics (Device Solutions, excluding DP)South KoreaIDM31.0%25.8%5.2
13Powerchip Semiconductor ManufacturingTaiwanFoundry30.6%12.6%18.1
14GlobalwafersTaiwanWafers28.9%27.6%1.3
15SK HynixSouth KoreaIDM28.9%15.7%13.2
16Kulicke & Soffa IndustriesSingaporeSemiconductor Equipment27.2%9.4%17.8
17SMICChinaFoundry25.6%8.0%17.6
18Gigadevice Semiconductor BeijingChinaFabless25.2%20.7%4.5
19Tianshui Huatian Technology (IC Packaging & Test)ChinaPackaging & Test25.1%22.3%2.8
20UMCTaiwanFoundry24.3%12.5%11.8
21China Resources MicroelectronicsChinaIDM22.7%13.2%9.5
22ASM Pacific Technology (Semiconductor Solutions)SingaporeSemiconductor Equipment22.4%8.6%13.8
23Ibiden Co LtdJapanIC Substrate22.2%17.2%5.0
24MediaTekTaiwanFabless21.9%13.4%8.5
25Macronix InternationalTaiwanIDM21.9%14.7%7.1
26King Yuan ElectronicsTaiwanPackaging & Test19.6%16.1%3.5
27LX SemiconSouth KoreaFabless19.5%8.1%11.4
28Hua Hong SemiconductorChinaFoundry19.2%0.7%18.5
29Winbond ElectronicsTaiwanIDM18.5%2.7%15.8
30RenesasJapanIDM18.5%9.1%9.4
31SCREEN Holdings (Semiconductor Production Equipment Business)JapanSemiconductor Equipment17.4%8.8%8.6
32Powertech TechnologyTaiwanPackaging & Test17.3%14.1%3.3
33Realtek SemiconductorTaiwanFabless16.4%11.1%5.3
34ASE Technology Holding (Packaging, Testing)TaiwanPackaging & Test16.0%10.0%6.0
35Sony (Imaging and Sensing Solutions)JapanIDM15.7%16.1%-0.4
36Sumco CorporationJapanWafers15.4%13.0%2.4
37SK SiltronSouth KoreaWafers15.2%14.7%0.6
38Fuji Electric (Semiconductor)JapanIDM14.9%8.5%6.4
39WONIK IPSSouth KoreaSemiconductor Equipment13.3%12.9%0.4
40Kyocera (Semiconductor Component)JapanIC Substrate12.7%9.0%3.7
41NAURA TechnologyChinaSemiconductor Equipment12.3%10.3%2.0
42KioxiaJapanIDM11.6%3.3%8.2
43Rohm (ICs, Discrete Semiconductor Devices)JapanIDM10.8%8.5%2.3
44JCET GroupChinaPackaging & Test10.4%5.5%4.9
45Sanken ElectricJapanIDM7.0%-1.0%8.0
46TongFu MicroelectronicsChinaPackaging & Test6.0%3.4%2.6
47Mitsubishi Electric (Electronic Device)JapanIDM4.6%5.3%-0.7
Unimicron Technology Corp (Carrier)TaiwanIC Substrate---
Samsung Electro-Mechanics Co Ltd (Substrate)South KoreaIC Substrate---
Kinsus Interconnect Technology Corp (IC substrate)TaiwanIC Substrate---
2021 RankCompany/Business UnitCountryIndustry2021 Operating Margin2020 Operating MarginPercentage Point Change
*The hyphen mark indicates the companies not reporting operating profit of its semiconductor segment
Industry
Comparison
*The figure in parenthesis indicates the number of companies in the industry
*The figure in parenthesis indicates the number of companies in the industry
*The figure in parenthesis indicates the number of companies in the industry
Country
Comparison
*The figure in parenthesis indicates the number of companies in the country
*The figure in parenthesis indicates the number of companies in the country
Methodology
IC 50

Asia Supply Chain IC 50 (IC 50) is ranked among Asia-based, public or private, companies operating along the semiconductor supply chain, including equipment, materials, designing, and manufacturing, according to their 12-month financials.

Screening criteria

Surveyed companies in IC 50 are selected based on their host countries and operating segments. Companies are from China (including Hong Kong), Japan, Taiwan, South Korea, Singapore, India, Vietnam, Malaysia, Philippines, and Thailand. Selected companies are operating in the semiconductor supply chain, including IDM, Foundry, Semiconductor Equipment, Wafers, Packaging & Test, IC Substrate (include leadframe and other package related components), and Fabless.

Companies may be excluded from the list due to the following considerations. A company wholly owned by a parent with financial statements included in the consolidated statement of the parent company is excluded. Companies operating in the semiconductor industry without separately disclosing their semiconductor segment results are also excluded from the ranking.

Financials and ranking

Based on publicly available information published before May 1, 2022, DIGITIMES Asia collects the comparable 12-month consolidated financials for the latest four quarters, two semi-years, or one annual period of the surveyed companies, inclusive of their subsidiaries. For comparability, surveyed companies' financial statements are generally between January and December, even for most Japan-based companies whose fiscal years run from April 1 to March 31 of the following year. DIGITIMES Asia then ranks the top 50 companies according to their revenue (for companies that generate most of their revenue from the semiconductors) or operating income (for companies who create revenues not only from semiconductors and whose segment reporting includes semiconductors). Supplemented information such as operating margin, net income, and profit margin are also included.