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ON Semiconductor's silicon carbide revenue increased nearly 4 times year-on-year

【Lansheng Technology Information】Recently, ON Semiconductor announced that its profit was 576 million U.S. dollars, a year-on-year increase of 26%, and its revenue was 2.09 billion U.S. dollars. But while the company's second-quarter sales were generally underwhelming, rising about $10 million from a year earlier, the company said revenue from silicon carbide modules quadrupled in the second quarter from a year earlier.

Already one of the company's largest customer segments, the automotive industry now accounts for 90 percent of ON Semiconductor's silicon carbide sales, El-Khoury said. New customers in the second quarter included Vitesco, BorgWarner and Magna, all of which use the company's silicon carbide chips in products for electric vehicle makers.

Silicon carbide chips have become a popular choice for automakers as they strive to electrify their vehicles. At the high voltages commonly used in electric vehicles, silicon carbide is more efficient. As a result, SiC is increasingly common in traction inverters and DC-to-DC converters used in electric vehicles. According to the chipmaker, the increased efficiency could also reduce weight, reduce wear and tear on batteries and provide longer range for electric vehicles using the technology.

Silicon carbide is also used outside of the automotive field. There are also applications outside the automotive industry. These parts are also ideal for power circuits used in solar power systems, energy storage technologies, electric motors and power supplies. However, El-Khoury told analysts on a conference call that the non-automotive market only accounts for about 10% of ON Semiconductor's silicon carbide sales.

Looking ahead, ON Semiconductor is cautiously optimistic about the prospects of the semiconductor market. It is expected that the revenue in the third quarter will reach 2.0-2.19 billion US dollars, which is mainly affected by the demand for cars.

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LanshengIC 2 august 2023, 9:16
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