The movement of Chinese New Year from January in 2017 to February in 2018 goes some way to explaining this. Revenues for January through February 2018 totaled NT$144.38 billion (about $4.93 billion), a decrease of 2.5 percent compared to the same period in 2017.

This puts TSMC behind in meeting the prediction of chairman Morris Chang. Chang said in January that TSMC would see revenues up year-on-year by slightly more than 15 percent in the first half of 2018 and up by slightly less than 10 percent year-on-year in the second half of 2018.

February sales were also down at rival foundry United Microelectronics Corp. but only marginally. UMC recorded sales of NT$11.91 billion (about $400 million), down 0.9 percent compared with a year before.

Related links and articles:

News articles:

TSMC’s sales show modest growth in January

TSMC’s Morris Chang sets retirement date

Strong December sales lift TSMC

TSMC’s sales go flat in November

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