Product category: Memory Devices and Modules
News Release from: Renesas Technology Europe
Edited by the Electronicstalk Editorial Team on 5 May 2003
Award for smart card business
Renesas Technology Corp has been awarded the Frost and Sullivan Global Competitive Strategy Award in recognition of the growth achieved by its Smart Card business during 2002
The company (as Hitachi) increased its revenue share over the last year, both globally and in EMEA, enough to rank it as the worldwide number two smart card IC manufacturer. In terms of unit shipments it recorded a growth rate of 20.3%. Frost and Sullivan has made two awards to the Smart Card industry this year.
This article was originally published on Electronicstalk on 5 May 2003 at 8.00am (UK)
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The Global Competitive Strategy Award is presented to a company whose competitive strategy has yielded significant gains in market share.
One of Renesas' key achievements in 2002 was its ability to increase its revenue share by gaining a foothold in the banking market, despite having a core focus in GSM SIM cards.
Its ranking in this market improved to fourth with a share of 4.8% following a focused effort that included a strategy of getting approved and gaining acceptance in many banking schemes worldwide.
The company now has a track record with many of the main financial institutions, including Visa, MasterCard, American Express, and PBOC, and is delivering secure solutions to the financial community worldwide.
The Smart Card business of Hitachi became an integral part of Renesas Technology Corp on 1st April, 2003 as part of the merger of the global semiconductor operations of Hitachi and Mitsubishi Electronics Corp.
The winner of the Frost and Sullivan award was selected through research that quantifies several market factors for each participant according to predetermined criteria.
This process included interviews with industry experts, industry participants, and end users, as well as extensive secondary data research.
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