Business News
Taiwan's TSMC's first-quarter profits down 94 per cent
Apr 30, 2009, 6:51 GMT
Taipei - The Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chipmaker, saw its first-quarter profits fall 94.5 cent due to the global slump, TSMC said Thursday.
Net profits were 1.56 billion Taiwan dollars (47 million dollars), down 94.5 per cent year-on-year.
TSMC's revenues for the first three months of 2009 totalled 39.5 billion Taiwan dollars, down 54.8 per cent year-on-year.
TSMC blamed the shrunken revenues and income on the deepening global economic recession and customers' inventory adjustment, which has hurt demand for semiconductors across all applications.
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