TSMC Trims 2015 Outlook

Alan Patterson, EETimes
7/16/2015 00:00 AM EDT

TAIPEI — Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest chip foundry, said the outlook for the rest of this year is worse than the company previously expected because customers are digesting an inventory glut that built up earlier this year.

“Inventory is being depleted more slowly than we expected,” said TSMC Chairman Morris Chang, making a rare appearance today at the company’s announcement of results for the second quarter of 2015. “The slow decrease in inventory is not a good omen for the fourth quarter. We do believe that by the fourth quarter, inventory will be back to the seasonal level.”

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