半導體先進微影設備廠商的新世代技術進入策略研究

Abstract

近三十年半導體製造技術蓬勃成長，全世界半導體製造技術已經可以達到14或16奈米量產，電晶體從2D平面式變成3D鰭狀式FinFET，因此能減少漏電流、提高效能，並縮小電晶體閘線寬。除了微縮線路可提高晶片效能外，廠商更積極研發450mm晶圓製造技術，降低晶片製造成本，惟這兩種途徑都需要有先進的微影技術與設備協助。 然而，先進微影技術需要高額的研發費用與高風險投資，使得主要先進微影曝光機廠商都面臨如何進入新世代技術的難題，如何能夠將研發與生產的風險降低，甚至能與客戶共同承擔風險，建立共同投資的合作互利模式，便成為微影設備廠商的策略重點。 本論文係以交易成本與價值網理論為基礎，探討半導體微影設備商進入高資本與技術密集的產業，如何邀請客戶加入新技術賽局，結盟互補者或併購供應商改變賽局規則，降低彼此投資風險與投資成本，分攤彼此風險，增加客戶潛在價值，以達到雙贏的結局；本論文研究以目前在先進微影設備領域龍頭廠商，艾斯摩爾公司（ASML），為個案進行質性研究。 半導體微影設備商艾斯摩爾提供新世代的微影技術能力，企圖解決先進技術和經濟效益難以兼顧的挑戰。在新世代技術進程中，需要投資龐大研發資金，艾斯摩爾邀約客戶參與投資發展極紫外光曝光設備，為客戶創造價值，降低投資成本與投資風險，增加客戶快速進入市場可能性。同時，購併其主要供應商加速研發，積極改變進入新世代技術的賽局，兼顧新技術發展與風險管理，善用價值網來創造公司附加價值。

Nearly three decades of booming growth of semiconductor manufacturing technology, the world's semiconductor manufacturing technology has reached 14 or 16-nanometer production, from 2D planar transistors become flippers style 3D FinFET, thereby reducing leakage current, improve performance, and reduce transistor gate width. In addition to the miniature circuit chip that can improve the effectiveness, some vendors even more actively develop 450mm wafer manufacturing technology to reduce wafer fabrication cost. Nevertheless, both approaches need to be supported by advanced lithography technology and equipment. However, advanced lithography technology requires extremely high R&D costs associated with high-risk investments, making major advanced lithography exposure equipment vendors face the decision dilemma of whether and how to enter into the next generation of technology by reducing their investment risks or by sharing risks with key customers through establishing cooperative investment patterns, which has been the strategic focus of major lithography equipment manufacturers. The present thesis research examines this critical issue by applying the theoretical lens of transaction costs theory and value net framework. Guided by these theoretical insights, we attempts to explore feasible ways for the advanced lithography equipment manufacturers to engage key customers to a multi-party alliance and to acquire critical complementors so that an win-win strategy can be facilitated. To elaborate how such a co-opetition strategy can be formulated, we undertake an leading vendor in this area, ASML, as the focus of thesis study. ASML attempts to address the challenges of balancing investment risks and economic benefits with multiple measures. ASML first invited customers to participate an alliance for developing extreme ultraviolet exposure equipments. They then create value for customers by lowering investment costs and investment risk and increase the likelihood of customers to quickly enter into the market. They then acquire and accelerate the development of its major suppliers and complementors and eventually hook-up stakes of both sides to realize value.