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TSMC forecasts flat growth for global semiconductors in 2015

TSMC forecasts flat growth for global semiconductors in 2015

Taipei, Oct. 15 (CNA) Taiwan Semiconductor Manufacturing Co. (TSMC, ???), the world's largest contract chip maker, cut its estimate for the 2015 global semiconductor growth Thursday to zero from its previous forecast of 3 percent set in mid-July. The manufacturer of chips for Apple Inc. also expected global foundry growth to decline by 5 percent this year, compared with its earlier forecast of 6 percent growth, due to a weaker global economy, an unexpected slowdown in the China economy since the first quarter and excess fabless inventories, TSMC President and Co-Chief Executive Officer Mark Liu (???) said at a meeting with investors. Although Liu forecast the global smartphone market would grow at a slower pace of 10 percent this year, he said smartphones "will continue to provide growth momentum for TSMC in the next two to three years" thanks to the development of high-end handsets. TSMC posted net income of NT$75.33 billion (US$2.33 billion) for the July-September quarter, a decline of 5.1 percent from the previous quarter and down 1.3 percent from a year earlier, on consolidated revenue of NT$212.51 billion. The Hsinchu-based company also expected its revenue to drop by 4-5 percent sequentially in the fourth quarter to between NT$201 billion and NT$204 billion, due in part to weaker-than-expected end market demand and continued cautious inventory management by its customers. (By Jeffrey Wu)


Updated : 2021-09-18 14:13 GMT+08:00