RDA and certain selling shareholders of our company completed an initial public offering of 8,625,000 ADS' in November 2010. We listed our ADS' on the Nasdaq Global Market under the symbol "RDA". Our lead underwriters for our initial public offering were Morgan Stanley and Credit Suisse.
RDA's principal executive offices are located at 6/F, Building 4, 690 Bibo Road, Pudong District, Shanghai 201203, in the People's Republic of China. Our Beijing office is located at Suite 1106 Block A,e-Wing Center,113 ZhiChun Road Haidian District. We also have offices located in Hong Kong and Seoul, Korea.
Our products have been incorporated into mobile handsets, set-top boxes, MP3 players and other wireless and consumer electronic devices and sold in China, Southeast Asia, India, the Middle East, Africa, Russia, Latin America and Europe.
We design, develop, and market wireless SoC and radio-frequency (RF) semiconductors for a broad range of cellular, broadcast, and connectivity applications in consumer electronics devices, principally in mobile handsets.
As we target and supply products to multiple markets and applications, we face competition from a large number of firms. We compete with MediaTek in a number of products related to mobile handsets in China as well as with multinationals such as Qualcomm, Broadcom, Intel, and STMicroelectronics that offer a broad line-up of stand-alone and integrated semiconductor solutions. In addition, there are companies that we compete with in one particular product or product family, such as Spreadtrum in baseband, RF Micro Devices, Skyworks, Triquint, Avago and Murata in power amplifiers, switches and front end modules; NXP and Silicon Laboratories in FM radio receivers; Maxim and Zarlink in DVB-S tuners; Maxim, MaxLinear and NXP in DVB-T tuners; Newport Multimedia in analog mobile television receivers; Samsung and CSR plc in Bluetooth solutions; Marvell, Qualcomm Atheros, CSR plc and Texas Instruments in WiFi combo chips; and Newport Media, Innofidei, Maxscend, TelePath Technologies and Siano in CMMB television. As we enter new markets, we may face new competitors.
We currently have more than 1,100 customers, most of which are located in China. We sell our products primarily to mobile handset design houses and manufacturers, set-top box design houses and manufacturers, and other consumer electronics manufacturers. Over two billion units of our products have been incorporated into mobile handsets, set-top boxes, MP3 players and other consumer electronic devices and sold to consumers in China, Southeast Asia, India, the Middle East, Africa, Russia, and Latin America. Our customers include the top 10 branded handset manufacturers in China, including ZTE, Huawei, Tianyu, and TCL, and the top design houses in China, including Longcheer, Huiye, Tinno and Wingtech. We have started to expand our customer base outside of China by selling TD-SCDMA transceivers, DVB-S tuners, GSM power amplifier switch modules, and Edge transceivers to Samsung and DVB-S tuners to LG Innotek. In addition, we expanded sales of our TDSCDMA transceivers to global tier-one handset providers such as RIM, Motorola, HTC, ZTE and Huawei, which use our TD-SCDMA products in their smartphones for the China market. We have a diversified customer base and none of our customers accounted for 10% or more of our revenue in 2010, 2011 or 2012. Our ten largest customers accounted for 32.0% for 2010, 33.3% for 2011 and 40.3% for 2012.
No, RDA is a fabless semiconductor company and outsources manufacturing. Access to foundry capacity is critical to our business because we are a fabless semiconductor company. We depend on a number of independent foundries to manufacture our semiconductor wafers, including Semiconductor Manufacturing International Corporation (SMIC) in China, Taiwan Semiconductor Manufacturing Company Limited (TSMC) in Taiwan, IBM in the United States and GlobalFoundries in Singapore for our "complementary metal oxide semiconductor" (CMOS) products and WIN Semiconductors and Wavetek Microelectronics Corporation in Taiwan for our gallium arsenide products.
We currently sell most of our products to customers through a small number of independent, non-exclusive distributors, including Auctus Technologies Group Limited, Arrow Asia Pac Ltd. and China Achieve Limited. For the years ended December 31, 2010, 2011 and 2012, 90%, 90% and 92% of our total revenue were from sales through distributors. We currently have a total of eight distributors and we add and drop distributors from time to time. While we issue invoices to our distributors and ship products to them, we do not consider them to be customers. Only in limited cases do we sell directly to our customers.
We use a number of different subcontractors to carry out testing and packaging functions, including United Test and Assembly Center (UTAC), Suzhou ASEN Semiconductor Company Ltd (ASEN), Unisem, Sigurd Microelectronics, Carsem (m) Sdn Bld, Jiangsu Changjiang Electronics Technology, Nantong Fujitsu Microelectronics and Powertech Technology Inc. The market for outsourcing testing and packaging services is less concentrated than the market for foundry services, and we believe that we are not dependent upon any single subcontractor for our testing and packaging needs. We develop our own tests for our subcontractors to use in testing our products.
On September 13, 2012, RDA declared a special one-time cash dividend of US$0.20 per ordinary share, or US$1.20 per American depositary share ("ADS"), payable on October 18, 2012 to shareholders of record at the close of business on October 1, 2012. This special dividend was the first in the Company's history.
Yes, RDA's Board of Directors approved a share repurchase program in October 2011 whereby the Company may purchase its own American Depositary Shares ("ADSs") up to an aggregate value of $15 million USD.