TSMC anticipates first loss since 20 years
Hard times for the chip industry: Even TSMC is affected by the tense economic situation and has to suffer financial drawbacks.
The Taiwanese manufacturer TSMC, who also produces chips for AMD and Nvidia GPUs, anticipates loss in the first quarter - the first time in 20 years. The reason for this assumption is a 31 percent decline in sales.
TSMC had an income of only 64.4 billion Taiwanese Dollars. The net income dropped by about 64 percent compared to the previous year. 12.6 billion Taiwanese Dollars remained in the cash box.
According to Lora Ho, CFO of TSMC, this is caused by the global recession. The customers would decrease their inventories and thus the demand for wafers would be lower than usual. CEO Rick Tsai expects a trough on the chip market for the first quarter. For the first quarter 2009 TSMC expects a turnover between 32 and 35 billion Taiwanese Dollars. The estimated operative minus for the quarter lies between 25 and 19 percent. Thus TSMC would have to report a loss for the first time since 20 years.
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