WISeKey starts manufacturing its IoT Semiconductors in China with the objective to ramp up its secure chip install base to 10 billion within the next 3 years, with a new Secure Microprocessor for IoT, Blockchain, AI and WISeCoin.
- WISeKey will continue manufacturing its chips in other countries (Asia and Europe) but China will become the main manufacturing center for Asia
- Currently, WISeKey IoT has an install base of over 1.2 billion secure chips (since 2010) in virtually all IoT sectors – autonomous cars, smart cities, drones, anti-counterfeiting, smart lighting, servers, mobile phones, etc.
WISeKey, a leading cybersecurity and IoT company, today announced that is manufacturing its IoT semiconductors in China, having as a goal the ramp up of its secure chip install base to 10 billion within the next 3 years, with a new Secure Microprocessor for IoT, Blockchain, AI and WISeCoin.
WISeKey IoT has an install base of over 1.2 billion secure chips (since 2010) in virtually all IoT sectors – autonomous cars, smart cities, drones, anti-counterfeiting, smart lighting, servers, mobile phones, etc. VaultIC407 features an outstandingly rich set of Security Protocols and Security Functions tailored to IoT applications. While WISeKey will continue manufacturing chips in other countries in Asia and Europe, its new plant in China will become the main manufacturing center for Asia.
Trusted Semiconductors are the building blocks of the IoT, found in everything from autonomous cars, smart cities, drones, anti-counterfeiting, smart lighting, servers, mobile phones, etc. Although China has mastered the art of assembling products with semiconductors produced elsewhere (the iPhone is the most famous example), the aspiration is for technology companies in China to move from being mere assemblers to manufacturers of semiconductors, therefore there is huge opportunity for WISeKey to become one of the first global companies to establish its semiconductors manufacturing facility in mainland China.
This is a great revenue opportunity for WISeKey as China is currently the world’s largest chip market, but it manufactures only 16 percent of the semiconductors it uses domestically. Currently, China imports about $200 billion worth of chips annually — a value exceeding its oil imports. To cultivate a domestic industry, the government of China has slashed taxes for chip makers and plans to invest as much as $32 billion to become a world leader in design and manufacturing.
Carlos Moreira, CEO and Founder of WISeKey, said:
“Our plan is to take advantage of this huge market opportunity to ramp up our production from the current 1.2 billion chips to 10 billion chips in the next 3 years.”
In April 2018, WISeKey announced that in cooperation with China Bridge Capital International, a division of China Bridge Capital (CBC) a leading investor in global disruptive technology companies, will establish a Joint Venture – WISeKey China – with the goal of becoming one of the leading providers of cybersecurity, Internet of Things (IoT) and Blockchain services for the growing Chinese market. The over-arching objective of the new company is to establish a market foothold with credible in-country leaders to maximize revenue in the near-term and realize reputable category position in the sectors of: retail, financial transaction, automotive, smart cities, consumer products, healthcare, smart card, industrial, transportation, and IT infrastructure, in the long-term.
China Bridge Capital, led by internet innovator Edward Qiang Zeng, is the premier alternative financial service provider for technology companies in strategic emerging industries across China, bringing investors and partners together for dynamic growth. CBC has recently co-founded the $1.4 billion “Next Generation Disruptive Industrial Fund” in cooperation with the Shenzhen Municipal Government and the Chongqing Municipal Government to invest in disruptive technologies that originate from the US and/or Europe.
Switzerland, the home country of WISeKey, also enjoys a pioneering relationship with China, being one of the first western countries that recognized the People’s Republic of China in 1950 – just one year after its creation. Switzerland was also early to recognize China as a market economy in 2007. In 2013, Switzerland became the first continental European country to sign a free-trade agreement with Beijing and, in 2016, Switzerland was one of the first countries in Europe to join the Asian Infrastructure Investment Bank.
To take advantage of these opportunities in China, WISeKey made the strategic decision to localize the production of VAULTIC, a Vault in a secure Integrated Circuit. Combined with the Application Microcontroller in the IoT Edge Device, VaultIC407 brings premium security level.