2012 Smartphone Guide
Transcript of 2012 Smartphone Guide
U.S. Semiconductors
Romit Shah – [email protected]
ontact Heading
Sidney Ho, CFA, CPA – [email protected]
Contact Heading
Sanjay Chaurasia – [email protected]
Global Communications Equipment
Stuart Jeffrey – [email protected]
Technology | Semiconductors 2012Equity ResearchComponents, Key Suppliers, and Market Share
Source: Gartner, Company data, Nomura estimates, * not covered by Nomura
Source: Gartner, Company data, Nomura estimates
Source: Gartner, Company data, Nomura estimates, * not covered by Nomura
NAND Flash
Display
Applications Processor
DRAM
Baseband
GPS Image SensorsTouch Controller
RF and FEM
Silicon content: $20–22
$18–20
$15–17
$8–10
$10–13
$4–5
$1–2$2–3 $1–2
PMIC
$3–4Combo-chip (WiFi/BT/FM)
$3–4$3–4Power
Amplifier
� Broadcom (75%)
� TI (17%)
� Marvell (3%)
� Skyworks* 30–34%
� RF Micro* 22–25%
� TriQuint* 15–18%
� Avago 5–8%
� Anadigics* 5–6%
� Atmel 25%
� Broadcom 25%
� Cypress 15%
� Synaptics* 15%
� TI 10%
� Qualcomm (45%)
� MediaTek (13%)
� Intel (10%)
� ST Ericsson (11%)
� Broadcom (5%)
� Marvell (3%)
� Qualcomm (35%)
� TI (20%)
� Samsung (12%)
� Nvidia (5%)
� Samsung (31%)
� Toshiba (27%)
� SanDisk (19%)
� Micron (9%)
� Qualcomm 40%
� TI 20%
� ST Ericsson 12%
� Maxim 8%
� Dialog Semi* 6%
� Skyworks* (34%)
� RF Micro Devices* (32%)
� TriQuint* (16%)
� Avago (7%)
� Samsung (38%)
� Hynix (21%)
� Elpida (16%)
� Micron (13%)
� Omnivision (30%)
� Samsung (25%)
� Aptina* (20%)
� Sony (12%)
� Toshiba (8%)
� Samsung (25%)
� Japan Display* (20%)
� LG Display (15%)
� Sharp (10%)
� Chimei (10%)
� AUO (10%)
� CSR* (40%)
� Broadcom (25%)
� u–blox* (20%)
� TI (8%)
Camera Lens
$1
MEMs Microphone $0.70–0.80 Compass
IC Substrate Audio Codecs $0.70–0.80 Speaker $0.50–0.60
Gyroscope / Accelerometer
$2–3LCD Driver IC
$1–2
$1–2
$1.00–1.50
Camera Module
Silicon content: $9–10
Touch Panel
$7–11
Battery (Li Polymer)
$5–6
HDI PCB$3–5
� AAC Tech Holdings (15–20%)
� Knowles Elec. (15–20%)
� Akustica* (10–15%)
� Analog Devices (7–10%)
� BSE* (10–15%)
� Simplo 40–50%
� Dynapack 35–40%
� Largan 15–20%
� Kantatsu* 10–15%
� Diostech* 10–15%
� Genius* 10–15%
� STMicro 60–70%
� InvenSense* 10–15%
� Analog Devices 5–10%
� AKM Semiconductor* (30–40%)
� Memsic* (20–30%)
� Samsung (10–15%)
� Samsung (30%)
� Renesas (20%)
� Novatek (15%)
� Himax* (10%)
� AAC (35%)
� NXP* (30%)
� Sharp 10–15%
� LG Innotek 10–15%
� Foxconn 8–10%
� SEMCO 5–10%
� STM 5–10%
� Ibiden 15–20%
� Unimicron 15–20%
� AT&S* 10–15%
� SEMCO 10–15%
� TPK 15–20%
� Young Fast 15–20%
� Wintek 10–15%
� Nissha Printing 10–15%
� SEMCO 15–20%
� Ibiden 15–20%
� Kinsus 10–15%
� Unimicron 10–15%
� Cirrus Logic* 15–20%
� TI 15–20%
� Wolfson Micro* 10–15%
� STMicro 10–15%
� Analog Devices 10–15%
2012 Smartphone Guide
Smartphone Bill of Materials
BOM (front of the phone) Avg. Cost ($)
NAND Flash (16GB) $20–22
Display $18–20
Applications Processor $15–17
Baseband $10–13
Touch Screen $11–13
DRAM $8–10
FEM and Misc RF $4–5
Combo-chip (WiFi, BT) $3–4
Power Management $3–4
Power Amplifier $3–4
Touch Controller $2–3
GPS $1–2
Image Sensors ASP $1–2
Smartphone Bill of Materials
BOM (back of the phone) Avg. Cost ($)
Camera Module $9–10
Touch Panel $7–11
Battery $5–6
HDI PCB $3–5
Gyro/Accelerometer $2–3
LCD driver IC $1–2
Camera Lens $1–2
Digital Compass $0.80–1.00
Speaker $0.50–0.60
Audio Codecs $0.70–0.80
MEMS Microphone $0.70–0.80
IC Substrates (incl. in chip cost)
Smartphone Unit Shipments by Vendor (in mn)
Smartphone units 2008 2009 2010 2011
Apple 11 25 47 89
Samsung 5 6 25 87
Nokia 61 71 102 85
RIM 23 34 50 52
HTC 7 11 25 43
LG 0 1 6 19
Motorola 3 3 14 17
Sony Ericsson 2 1 10 20
Huawei 0 0 0 16
ZTE 0 0 0 11
Others 27 21 67 34
Total 139 172 299 472
Mobile Semiconductor Market by Device Type
Cellular Baseband
54%
Apps Processor9%
RF Devices19%
Wireless Connectivity
10%
Others8%
Mobile Semiconductor Market Share, 2011
Others22% Qualcomm
24%
TI12%
MediaTek9%STMicro
9%
Intel6%
Broadcom5%
Samsung4%
RFMD3%
Skyworks3%
Renasas3%
Overall Smartphone Market Share, 2011
Others7% Samsung
19%
Nokia18%
Apple19%
RIM11%
HTC9%
ZTE2%
Huawei3%
LG4%
Motorola4%
Sony Ericsson4%
Handset Shipments by Technology, 2009–2016E
Handset Shipment (in mn)
2009 2010 2011 2012E 2013E 2014E 2015E 2016E
2G Devices 3G Devices 4G Devcies
2500
2000
1500
1000
500
0
Average Selling Price by OEM, 2011
Average Selling Price (US$)
Apple HTC LG Motorola Nokia RIM Samsung SonyErisson
800
600
400
200
0
Operating Margin by OEM, 2011
Operating Margin
Apple HTC LG Motorola Nokia RIM Samsung SonyEricsson
40%
30%
35%
20%
10%
25%
15%
5%
(5%)
0
3G Unit Shipments, 2009–2016E
Unit Shipment (in mn)
2009 2010 2011 2012E 2013E 2014E 2015E 2016E
CDMA 1x EVDO HSPA W-CDMA TD-SCDMA
1600
1400
1200
1000
400
600
800
200
0
Shipments by Operating System, 2008–2011
Smartphone Shipment
2008 2009 2010 2011
Android iOS Symbian RIMMicrosoft BADA Others
100%
80%
60%
40%
20%
0
Smartphone Unit Shipments by Region, 2007–2013E
Smartphone Shipment
Asia/Paci�c Eastern Europe Japan Latin AmericaMiddle East & Africa North America Western Europe
100%
80%
60%
40%
20%
02009 2010 2011 2012E 2013E20082007