The market leader in the chip industry is tempering investors’ expectations: given the problems in the smartphone and laptop markets, the world’s largest chip manufacturer TSMC expects a weaker development in the semiconductor industry this year than last year.
The market for exclusive memory chips is expected to grow by about 10 percent in 2024 compared to the previous year, TSMC boss CC Wei said in a conference call with analysts following the first quarter figures released on Thursday. Hsinchu, Taiwan were presented.
The market leader previously expected growth of more than 10 percent. This means that manufacturing manufacturers, including TSMC, are unlikely to grow as strongly as previously expected. The semiconductor industry is suffering from its customers’ inventory reductions, combined with consumers’ lack of willingness to buy.
However, 2024 should still be a year of growth for TSMC, Wei pointed out, who also confirmed the company’s investment plans for the current year. The sales targets for the current second quarter presented on Thursday exceeded analysts’ expectations.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
