Amkor Technology

Company focus

• Largest U.S.-headquartered outsourced semiconductor assembly and test provider (OSAT).
• Provides turnkey packaging and test services, including wafer bumping, wafer probing, back-grinding, packaging, burn-in, system-level and final testing, and drop shipment.
• Serves applications in smartphones, data centers, AI, automotive, IoT, wearables, and other electronics.

Business model and capabilities

• Customers: integrated device manufacturers (IDMs), fabless semiconductor companies, OEMs, and contract foundries.
• Packaging portfolio:
  • Advanced Products: FC CSP, FC BGA, memory and wafer-level packages (Wafer-Level CSP, WLFO, SiPh, CPO, HDFO, 2.5D and interposers, TSV-enabled options, and high-power modules with GaN/SiC).
  • Mainstream Products: leadframe and substrate-based wirebond packages, MEMS packages, and related test services.
• Test services: wafer-level testing, package-level testing, burn-in, system-level testing, and test development.

End markets and customers

• 2025 net sales distribution:
  • Communications (smartphones, tablets): 46%
  • Computing (data centers, infrastructure, PC/laptop, storage): 20%
  • Automotive, industrial and other (ADAS, electrification, infotainment): 19%
  • Consumer (AR & gaming, connected home, wearables): 15%
• Customer concentration (2025):
  • Ten largest customers accounted for 72% of net sales.
  • Apple: 29.8% of net sales; Qualcomm: 11.1%.
• Maintains large, ongoing collaborations and long-standing customer relationships with leading semiconductor companies.

Financial highlights

• Net sales (total revenue):
  • 2025: $6,708 million
  • 2024: $6,318 million
  • 2023: $6,503 million
• Revenue by product category (share of 2025 net sales):
  • Advanced Products: $5,556 million (82.8%)
  • Mainstream Products: $1,152 million (17.2%)
• Research and development expense:
  • 2025: $166.7 million
  • 2024: $163.0 million
  • 2023: $177.5 million

Geographic footprint and facilities

• Manufacturing and R&D facilities in China, Japan, Korea, Malaysia, the Philippines, Portugal, Taiwan, and Vietnam.
• Arizona facility (U.S.) under construction; manufacturing expected to begin in the first half of 2028 (construction began in H2 2025).
• Vietnam facility began manufacturing in 2024 to scale production in Asia.
• Facility area: ~11.78 million sq. ft. owned and ~0.855 million sq. ft. leased (total ~12.63 million sq. ft.).
• Some facilities in Japan and Korea are pledged as collateral for indebtedness or incentives.

Employees

• Total employees as of December 31, 2025: 30,800.
• Geographic distribution: approximately 95% Asia-Pacific, 4% Europe, 1% United States.

Strategic positioning and growth

• Focus on advanced packaging and test technologies such as HDFO, 2.5D, SiP, WLFO, SiPh, CPO, TSV interposers, GaN/SiC power modules, and copper hybrid bonding.
• Expanding geographic footprint to support regionalization and U.S. semiconductor initiatives while scaling in Asia.
• Emphasis on customer co-development and rapid time-to-market, with diversified end markets to balance industry cycles.

Operations and risk management

• Industry is cyclical and sensitive to global economic conditions and capital expenditure cycles.
• Customer capacity agreements and forecasts are typically non-binding or short-term, which can cause variability in quarterly results.
• Active risk management for materials, equipment lead times, inflationary pressures, and supply chain dependencies.

Notable programs and incentives

• CHIPS Act-related incentives: in December 2024, Amkor received up to $407 million in direct funding for the Arizona facility; funding includes milestones, restrictions, audits, and potential clawbacks. State and local incentives for Arizona have similar terms.

Intellectual property and cybersecurity

• Maintains patents, trademarks, and trade secrets and actively protects intellectual property.
• Ongoing investments in IT systems and cybersecurity risk management.