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L&T Semiconductors has designed, begun selling products: CEO
A subsidiary of Indian conglomerate Larsen & Toubro, LTSCT designs and sells smart devices and semiconductor products for global customers. It has adopted a fabless model and contracts out the production. Defending the company's approach, Kumar said an early foray into designing allows the company to churn out products by the time the manufacturing ecosystem in the country goes live.
"Initial investments have started moving into manufacturing, which takes five years to get up and running. The challenge for those designing products is that it will take five-seven years for them to hit a sales target of $1 billion'', he said. Hopefully, the facilities will come up by the time designing capabilities mature, he added.
Kumar said that LTSCT is targeting the entire spectrum of" onclick="showFullScrImg(this)"/>
L&T Semiconductors Technology (LTSCT) has already designed and commenced the sales of three-four semiconductors products, and is on track to design up to 15 by 2026, chief executive Sandeep Kumar told ET. The company has lined up customers for the upcoming products it is currently designing, sales for which will begin in 2027, he added.
Kumar stressed that buyers are based across Asian economies, except China, and said that LTSCT is keen on participating in that market. "The Chinese market is continuously bringing in new products. Being there, we will also get to know the price points at which the products are selling. We don't have exposure to the Chinese market at the moment. We are evaluating (a foray), and will take a call by March," he said.
A subsidiary of Indian conglomerate Larsen & Toubro, LTSCT designs and sells smart devices and semiconductor products for global customers. It has adopted a fabless model and contracts out the production. Defending the company's approach, Kumar said an early foray into designing allows the company to churn out products by the time the manufacturing ecosystem in the country goes live.
"Initial investments have started moving into manufacturing, which takes five years to get up and running. The challenge for those designing products is that it will take five-seven years for them to hit a sales target of $1 billion'', he said. Hopefully, the facilities will come up by the time designing capabilities mature, he added.
Kumar said that LTSCT is targeting the entire spectrum of semiconductor products. "There are at least one lakh different products in the semiconductor space. One company can't make them all''. Considering how designing each semiconductor product can take $15-$100 million of investment, the company will continue to invest in design capabilities instead of manufacturing, and will also continue to expand its employee count, which currently stands at 400, he added.
Kumar explained that the company will be ``able to stand on its own” after reaching a revenue of $200 million. Investments of more than $100 million are planned for the first year, going up to $300 million. Incorporated in November, 2023, the company has so far accumulated 60+ patents.
The CEO said that the company is hopeful of qualifying for the second iteration of the Design Linked Incentive scheme, which is currently being formulated by the Ministry of Electronics and Information Technology (MeitY). The scheme provides financial support for research & development, and access to design tools, besides sales related performance-linked incentives.
The company also remains open to strategic acquisitions. LTSCT acquired the power modules business from Fujitsu General Electronics (FGEL), an Indian subsidiary of Fujitsu, in June.
Source: EconomicTimes
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