The objective is 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. 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.
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. <