Contract chipmaker Taiwan Semiconductor Manufacturing Company (TSMC) recorded a double-digit drop in revenue in Q3, positioning it to close the year with a decline in sales falling at the higher end of earlier guidance.
Revenue fell declined 10.8 per cent year-on-year to TWD546.7 billion ($17.1 billion).
The company is a major supplier of processors to Apple, Arm, Nvidia and others.
In Q2 it booked its first revenue decline in four years, with revenue down 10 per cent to TWD180.1 billion.
In April, CEO CC Wei predicted a low- to mid-single-digit decline in full-year revenue.
The entire consumer electronics sector is facing falling demand amid economic uncertainties and rising inflation.
Taiwan-headquartered Foxconn also booked a double-digit decline in Q3 revenue. It is a major Apple supplier.
In July, Samsung revealed plans to continue to reduce memory chip production after a decline in Q2 revenue, but forecast a rebound in sales in H2.
TSMC’s sales in the first nine months dropped 6.2 per cent to TWD1.5 trillion.
The post TSMC revenue drops again in Q3 appeared first on Mobile World Live.
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