MiPhi, a joint venture between Phison and Micromax, plans a tenfold ramp-up in enterprise SSD production from 30,000 to 300,000 units per month this year, targeting ₹1,000 crore in revenue versus about ₹100 crore last fiscal. The company will fund expansion largely through internal accruals, positioning itself as one of India’s fastest-scaling memory manufacturers.
MiPhi to Ramp up Memory Module Production Capacity by 10x This Year, Eyes ₹1,000 Cr Revenue
MiPhi, a joint venture between Taiwan's storage chip company Phison and Indian firm Micromax, currently has a production capacity of 30 thousand units per month of memory modules (solid state drive) for enterprises
Semiconductor manufacturing Magnific
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Semiconductor company MiPhi plans to ramp up manufacturing capacity of memory module products for the enterprise segment by 10 times this year, with a revenue potential of ₹1,000 crore driven by demand for storage capacity, a top official of the company said on Friday.
MiPhi, a joint venture between Taiwan's storage chip company Phison and Indian firm Micromax, currently has a production capacity of 30 thousand units per month of memory modules (solid state drive) for enterprises. It plans to ramp up to 3 lakh units this year, the company’s co-founder Rahul Sharma told PTI.
The JV was announced in December 2024. The company started selling memory modules three months ago and it has started testing products across large enterprises.
"There is a huge demand for storage drives. We are planning to ramp our production capacity by 10x this year. We were about ₹100 crore in the fiscal year ended March. By the end of this year we expect to clock a revenue of ₹1,000 crore,” he said.
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Sharma said that most of the investment that will be made in the scaling up of the factory is expected to be made from internal accruals.
“We need semiconductor unicorns to come out of India. Ours will be the fastest scale-up of memory production in the country,” he said.
Sharma said that MiPhi will customise memory devices as per the requirements of enterprises and build intellectual properties gradually.
“We have 50 people working in the R & D team. This year, we are going to add 100 people, and over the next three years, we will need 500 people. We will design products in India that we will sell to enterprises,” Sharma said.
MiPhi plans to train people in Taiwan in batches, according to Sharma.
Phison Electronics EVP and Chief of Staff and MiPhi Executive Director, Boris Chang, said if you have to customise enterprise memory products, then there will be a need to have a solid engineering team sitting in India.
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“A lot of Indian students are studying abroad in Taiwan. They are in engineering schools. We hope to find some good engineers and talents, and they can be trained locally. Storage is a very special technology sector, which you cannot learn from any other place, and Phison is the best place to learn,” he said.