Edit Metric
|
||||||||||||||||||||
Details
|
||||||||||||||
OmniVision (OVTI)Stock (Semiconductor - Integrated Circuits Industry)
 OmniVision Technologies is the largest producer of CMOS image sensors.[1] Design is carried out in the United States. Fabrication occurs in Taiwan. OmniVision is the only major image sensor producer dedicated solely to image sensor and related product production.[2] OmniVision has the widest selection of products. OmniVision is present in the most amount of markets.[3] They also are frequently the first to market with the latest technology.[4] OmniVision has the strongest financial position of any image sensor producer, with almost half of its assets in cash. OmniVision is frequently the market leader by revenue and quantity. For a time in late 2006 and early 2007, Micron Technologies temporarily produced the most by revenue until they ran into financial difficulty.
[edit] FinanceOmniVision's fiscal year ends on April 30th. [edit] Balance sheet
[edit] Income statement
 [edit] Cash flow statement
[edit] Miscellaneous[edit] ASPsAverage Selling Prices of sensors have declined at a 20% to 25% average annual rate,[2] a slower pace than the 34.7% rate that the Intel series suffers.[6] [edit] Stock Options FinancingThe company is heavily dependent upon stock options to finance a large percentage of employee compensation. As of the 2007 annual report, there were roughly 12.5 million OmniVision issued options outstanding for an 8 year weighted average remaining contractual life and a $18.54 weighted average exercise price.[7] There are approximately 55 million shares issued and outstanding. [edit] SeasonalityProduct The specific products and product groups have been known to be subject to typical seasonal variable revenue cyclicality.[7] [edit] Share Retirement & DividendsTo date, OmniVision has authorized: [edit] Gross Margins
[edit] OperationsAs of the fiscal 2007 annual report, OmniVision currently employs over 2,000 people.[7] [edit] Sensor production
[edit] Operational Process[edit] Operational Divisions[edit] Mainstream Products
[edit] Emerging Products (formerly, Advanced Products)
Automotive Security Medical [edit] Geography of OperationsThe United States of America
Mainland China
Taiwan
South Korea
Hong Kong Singapore Europe
[edit] Technologies[edit] Owned[edit] OmniPixel3-HS[19][1]
[edit] Wavefront Coding
Comparing Wavefront Coding to extending depth of field by using color channels in late 2003, "'in a normal lens the red, green and blue light rays all have a slightly different focus,' Cathey explained. 'You can correct for this by using combinations of lenses, but we can do it much more easily by wavefront coding because it becomes irrelevant whether the different colours end up at different distances from the lens.'" Dr. Cathey goes on to explain the advantages of a Wavefront Coded system, that "the technique also corrects for the blur caused by the temperature-related aberrations associated with inexpensive plastic optics. Optical elements can be manufactured in plastic providing a lower-cost, high-volume solution."[23]
[edit] Wafer-Level Optics
[edit] Not Owned
High Dynamic Range (HDR) / Signal to Noise Ratio
[edit] Products[edit] Product Characteristics[edit] Wavefront Coding Products
[edit] TrueFocus
[edit] Embedded TrueFocus
[edit] Form FactorsA Form Factor is an industrial term for standard sizes of image sensors by lens diameter. Form Factors usually have implied resolutions by pixel size, e.g. 1/4" for 2mp at 2.2 microns per pixel (OmniPixel 2) yet 1.75 microns per pixel (OmniPixel 3) for 1/4" 3mp. Height is not normally specified, but its' increased importance is causing OmniVision to now headline significantly smaller heights. OmniVision competes very aggressively to attempt to be the first to market with the latest form factors for the various resolutions. Lately, they are attempting to also include the latest features and functions such as Wavefront Coding, HDR, MIPI, Anti-Shake, Scalado compatibility, greater sensitivities, and others.
[edit] 8mpThe OV8810[38] is OmniVision's first attempt at 8mp.
[edit] SubstitutesCompetitors are struggling to make BSI work even for lower resolutions and older pixel sizes. For now, there are no substitutes.
[edit] 5mp
[edit] SubstitutesMicron/Aptina's version lacks the typical features and functionality such as BSI, True HD, HDR, high sensitivity, and EDoF. Needless to say, they do not disclose the statistics such as HDR in dB or sensitivity in mV/lux*s. [edit] 3mp[edit] The OV3640
[edit] Substitutes
[edit] The OV3642
--This particular product has no direct substitute.-- [edit] 2mpThe OV2650 is the first high volume intended, form factor frontier of any resolution ever to include HDR.
[edit] SubstitutesNo competing product is capable of HDR.
[edit] VGA
[edit] SubstitutesIt is unclear whether Toshiba is offering a substitute at this form factor, since they have not disclosed the form factor for their latest VGA.
[edit] Management[edit] Shaw Hong, CEO and PresidentCo-founder of the company, Mr. Hong holds a B.S. degree in electrical engineering from Jiao Tong University in China and an M.S. degree in electrical engineering from Oregon State University.[57] [edit] Industry Characteristics[edit] Sweet SpotUsing the industry vernacular, the so-called "Sweet Spot" is the resolution achieving the highest revenue during a period of measurement. Currently, management implies that the 2mp chips retain this position[18] but expects 3mp to take the lead sometime in calendar 2008.[16] [edit] Business ModelsImage sensor producers who own and operate their semiconductor fabrication facilities are known as "fabs". Samsung would fit this description. The term can also be used for companies that physically produce the chips yet don't take major roles in design. Taiwan Semiconductor Manufacturing Company (TSM) would fit this description. Image sensor producers who purchase their physical inventory and possibly other supply chain steps from outside companies are called "fabless". OmniVision would fit this description. Analysts and press pundits had argued as recently as calendar mid-2007 that the fabless model would not work in the CMOS image sensor industry.[58] A new trend among fabless companies is to be "fablite", where the company doesn't own fabrication facilities but does own facilities capable of other production steps. In OmniVision's case, they have stakes in companies that perform Chip Scale Packaging, among other steps. Companies that discover and sell production techniques are sometimes called "IP Factories". Tessera Technologies (TSRA) would fit this description. [edit] CustomersOmniVision provides the sensor in the Playstation Eye for the PlayStation 3.[59] OmniVision provides the sensor in the EyeToy for the Playstation and PS2.[60] Chose OmniVision to be a Strategic Supplier in March, 2006.[61] Chose OmniVision to be a Strategic Suppler in August, 2005.[62] However, they have sold their handset business,[63] and it's unclear whether OmniVision will remain as the strategic supplier. Automotive Rearview Cameras.[64] Disposable 1/18" FDA approved sensor for the Third Eye Retroscope colonoscopy device.[65] Single-use, disposable 1/7" CIF sensor used in the TVT (Tracheoscopic Ventilation Tube)[66] OmniVision provides sensors for the Spy Video Car[70] OmniVision supplies sensors for the Picosat and Uninhabited Aerial Vehicle Systems Engineering (PAUSE) Mars prototype aerobot project.[73] [edit] Subsidiaries & Joint Ventures"In April 2005, [OmniVision] completed the acquisition of CDM Optics, Inc., or CDM, a company located in Boulder, Colorado. CDM is the exclusive licensee from an affiliate of the University of Colorado of a patented technology, known as Wavefront Coding technology that increases the performance of an imaging system by substantially increasing the depth of field and/or correcting optical aberrations within the image. We expect that it will significantly reduce the size and complexity of the auto-focus function on future camera modules utilizing OmniVision sensors. The closing consideration for the acquisition consisted of $10.0 million in cash and approximately 515,000 shares of common stock."[10] VisEra is a joint venture with TSMC located in Taiwan created for back-end manufacturing services. Both OmniVision and TSMC have entered into separate nonexclusive license agreements with VisEra to which each party licenses certain intellectual property to VisEra relating to manufacturing services.[10] "WLCSP is in the business of designing, manufacturing, packaging and selling certain wafer level chip scale packaging related services, for which [OmniVision] is currently a customer. [OmniVision] owns approximately 19.98% of WLCSP’s registered capital on a fully-diluted basis and has appointed a member to WLCSP’s board of directors and a supervisor to monitor the actions of WLCSP’s board of directors and officers."[10] XinTec is "a Taiwan-based supplier of chip-scale packaging services." After "Taiwan Semiconductor Manufacturing Company (TSM) purchased approximately 90.5 million previously-unissued shares from XinTec, [OmniVision's] beneficial ownership percentage in XinTec declined to 12.4%."[10] XinTec completed its' first fabrication facility capable of processing 300mm wafers with Wafer Level Packaging Technology. The combined monthly capacity for 200mm and 300mm wafers at XinTec is now 40,000 wafers.[74] " In 2003, in order to enhance its access to plastic and ceramic packaging services that were in short supply, the Company purchased approximately 27% of the common stock of ImPac."[10] [edit] SuppliersTaiwan Semiconductor Manufacturing Company (TSM) [edit] Distributors & OEMs[edit] CompetitorsOmniVision was the only company to increase sales in 2007 by more than 20%, "a 'rare' off year" for the industry.[75] Possibly due to Micon's inability to compete as evidenced by the large decline in "imaging" sales, newly arrived operating losses from "imaging",[76] and conspicuous underrepresentation in the VGA market with 50% of all units shipped in their first fiscal quarter of 2008 at 2mp and above with expectations that VGA and 1mp will be even less represented in the fiscal second quarter[77] but reasoned by the company "to improve its focus on the semiconductor memory market, [Micron] is exploring business model alternatives for its Imaging business", purchased from Avago Technologies,[78] and Photobit [79]"including partnering arrangements. Under any of the alternatives being considered, [Micron] expects that it will continue to manufacture CMOS image sensors."[80] Micron's actions regarding their business producing CMOS sensors have arguably become somewhat disjointed. They have renamed their image sensor division "Aptina".[81] It is still a part of the overall company, yet it can "seek manufacturing alliances with outside foundries".[82] They call their new 1/11" 4mm x 4mm x 2.5mm VGA module a "Wafer Level Camera",[81] a possible play on the term "Wafer Level Optics" and possibly in response to Tessera's new "OPtiML™ Wafer Level Camera" technology,[83] even though OmniVision has been able to produce a similar sized VGA module since early 2007, calling the technology "chip scale packaging".[84] Micron's problems may have worsened. "S&P said it has placed its BB- credit rating on CreditWatch 'with negative implications' citing 'challenging market conditions' faced by the Boise, Idaho-based tech company. S&P noted how 'a degree of economic diversity among the three markets has benefited ratings in the past.' 'However, concurrent weakness in all three markets, coupled with high capital expenditures to expand and upgrade manufacturing facilities, has led to substantial negative cash flows,' S&P said in a statement. Bruce Hyman, an S&P credit analyst, said the ratings agency is meeting with Micron management 'to review anticipated business conditions and capital expenditure plans.' 'In the event that we lower the rating, it is unlikely to be by more than one notch,' he said in a statement."[85] Micron lost money on its' imaging division in fiscal 2008.[86] It is unclear whether the investigation into an accusation that Samsung used "its subsidiaries to create a slush fund and paying off public officials to avert investigations into its management practices" and raid on Samsung's offices are affecting its' CMOS image sensor business.[87] Toshiba is licensing Tessera's OptiML Focus Technology to compete with OmniVision's Wavefront Coding products.[88] There have been no product announcements yet. Tessera develops and markets CMOS image sensor production techniques. They have run into difficulty with some of their patents: "On February 29, 2008, the Patent Office issued an Official Action rejecting Tessera’s 6,133,627 patent in ex parte reexamination. The Patent Office rejected every claim of the ‘627 patent that is in reexamination. Since February 15, the Patent Office has acted on Siliconware's reexaminations and has rejected the claims being asserted by Tessera against an array of chip manufacturers in US District Court lawsuits, ITC actions, and arbitration proceedings. The patents subject to Siliconware's reexaminations include Tessera's 6,433,419 and 6,465,893, both of which have rejections in inter partes reexaminations, and Tessera's 5,852,326 which has been similarly rejected in ex parte reexamination. On February 26, the International Trade Commission took the rarely employed step of staying a hearing based on Siliconware's reexaminations. The ITC stayed Tessera's investigation against Spansion, Qualcom, ATI Technologies, Motorola, STMicroelectronics, and Freescale. The patents Tessera is asserting against Siliconware are part of Tessera’s “Compliant Chip” license, a portfolio that had been previously asserted in numerous litigations and which, according to Tessera, has generated over $250 million dollars in licensing profits. "[89] Strangely, Tessera was bestowed the "Product of the Year" for 2007, honored for their work on their Wafer Level Camera by the trade magazine Electronic Products even though OmniVision had already released a VGA module with a 2.5mm height earlier in the year. The French government has recently pledged 5.6 million Euros "towards a project to develop infra-red imaging sensors targeted at uses in the automotive, medical and aerospace industries. Participants in the Euros 23 million R&D project, dubbed Imalogic, include ST Microelectronics, image sensor specialist Sofradir, its subsidiary Ulis, Trixell, and French microelectronics research center CEA-LETI."[90] There has been no news of interference within ST Micro by the French government since they took more share than their co-owners, the German government, except for proposals being sent to the French government to merge ST Micro into other companies.[91] Despite a meager product offering,[92] Kodak's promised a large leap in sensor sensitivity. They claim to be able to "[provide] a 2x to 4x increase in sensitivity to light (from one to two photographic stops) compared to current sensor designs" with their new TRUESENSE Color Filter Pattern. However, they did not specify what designs they were referencing, exactly.[93] If "current sensor designs" from above is to include current designs of competing sensors, OmniVision's HS pixel design, expected to be on the market, is claimed to be 2x the competing sensitivities. Currently, profits from image sensors are declining faster than the 90% drop in operating income at Sony.[94]
[edit] External links[edit] References
|
Edit
History
Bookmark
