在本篇論文中,首先探討公司的財務歷史資料、資本支出、財務表現。目前的營運表現,產業競爭力也一一檢視。並且提出公司未來的經營策略。 聯電創立於1980年,由政府輔導成立,技術由工業研究院電子所移轉,聯電於1997年,由自由產品公司(IDM)改變為晶圓代工公司,在2000年以後,聯電營業額幾乎沒有成長,本篇論文嘗試由財務分析的角度,來尋找答案。成長與獲利之間並不全然可以同時存在,探討聯電過去的營運表現,對這個議題提出了另外一種觀點。 除了過去的營運表現,作者也對未來公司的經營方向提出個人的看法:先進製程投資昂貴,除非有策略聯盟,否則高額的投資,未來的回收會有問題,所以應聚焦有競爭力的製程技術。物聯網與穿戴式在實體層所需要的半導體製程技術,並不需要是最先進的製程技術,8寸晶圓或是12寸晶圓中的55nm才是性價比高的製程技術,這將會是公司未來的機會。
In this thesis, the United Microelectronic Corporation (UMC) historical revenue, CAPEX and finance performance is studied. Operation performance is diagnosis and future strategy is proposed based on current industry and competitiveness. UMC is found at 1980, and sponsor by government foundation. The technology is also transferred from ERSO/ITRI. UMC was converted from IDM to pure foundry at 1997. UMC foundry revenue does not growth well in the past 10 years. Some finance data is studied to provide the explanation. There is conflict between profit and investment. UMC past performance study may derive some valuable insight for enterprise business operation. Beside the past performance review, author also would like to propose strategy for UMC future operation direction: Advanced technology investment is huge. The return is not obvious. UMC should focus on the IoT since advanced logic process technology and huge investment is not necessary in IoT. 8” and/or 55nm in 12” will be good target technologies in terms of cost and performance. That’s the future opportunity for UMC.
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