March weakness caps foundries’ poor first quarter
Despite picking up by 30 percent from a slow February TSMC’s March sales of NT$79.72 billion (about US2.57 billion) were down by 23.1 percent from the same month a year before.
As a result TSMC’s 1Q19 revenue was NT$218.70 (about US$7.09 billion), down 11.8 percent on the first quarter in 2018. There is some hope that a bottom in the logic market could have been reached but it is expected that weakness in memory demand and therefore average selling prices will linger in to the 2H19. However, this will have a reduced affect TSMC and UMC.
March sales at UMC were NT$10.33 billion (about US$335 million) down by 16.8 percent on an annual basis.
UMC’s revenues for 1Q19 totalled NT$32.58 billion (about US$1.07 billion), down 13.1 percent compared with the first three months of 2018.
Related links and articles:
News articles:
Foundry sales fall faster in February
Foundries open 2019 on down note
Foundries finish 2018 with modest growth
Foundries’ November sales wind down
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