Leading foundry TSMC experienced an annual fall in sales in March as it finally felt the market weakness that has been affecting much of the rest of the semiconductor industry for months.
TSMC has announced sales of NT$145.41 billion (about US$4.78 billion) for March. This was down 10.9 sequentially and down 15.4 percent year-on-year. Revenue for January through March 2023 totaled NT$508.63 billion (about US$16.7 billion), an increase of 3.6 percent compared to the same period in 2022.
This puts TSMC’s first quarter revenue at the bottom of the range it forecast at the time of its 4Q22 financial results. At that time TSMC said it expected 1Q23 sales to be between US$16.7 billion and US$17.5 billion
Neighbouring foundry United Microelectronics Corp. was able to post a sequential increase in sales but on an annual basis its March sales were down 20.1 percent.
UMC’s March sales were NT$17.69 billion (about US$580.94 million). UMC’s first quarter sales were NT$54.78 billion (about US$1.78 billion).