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☆ Taiwan chipmaker UMC sees demand stabilising, with 'rush' PC, smartphone orders
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

The logo of United Microelectronics Corporation (UMC) is seen at the company’s lobby at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. The semiconductor industry has come under pressure as global economic woes dent demand for chips used in everything from tablets to cellphones and cars. In an earnings release, UMC (2303.TW) co-President Jason Wang said it expected demand to gradually stabilise in the last three months of the year. "For the fourth quarter, with the recent rush orders from PC and smartphones, we expect demand has gradually stabilised," he said. However, the company kept its guidance for capital spending this year at $3 billion, compared with $2.7 billion for last year.

Persons: Ann Wang, TSMC, chipmaker, Jason Wang, Ben Blanchard, Jan Harvey Organizations: United Microelectronics Corporation, Hsinchu Science, REUTERS, United Microelectronics Corp, Qualcomm Inc, Germany's Infineon, UMC's, Thomson Locations: Hsinchu, Hsinchu Science Park, Taiwan, TAIPEI, U.S, UMC's Taipei

Instead, he's a co-founder of a $400 million food delivery company. Tsao launched the company, Caviar, with four of his best friends from the University of California, Berkeley in 2012. Building "Groupon for food" didn't work, "so we were like, 'Let's be the Uber for food.'" 'We just blew up'At the time, most of today's food delivery apps didn't exist yet. Five college friends founded Caviar in 2012, at a time when GrubHub and Seamless were the only major online food delivery businesses.

Persons: Shawn Tsao, he's, Tsao, Jack, Uber, Frank Lloyd Wright, Frank Gehry, Abel Lin, Andy Zhang, Richard Din, Jason Wang, —, Munch, Groupon, didn't, Postmates, DoorDash, Andreessen Horowitz, Wang Organizations: University of California, CNBC, Investors, Tiger Global Management Locations: Berkeley, Francisco, U.S, Miami

☆ Taiwan chipmaker UMC sees 'uncertain' demand, gearing up for AI
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

SummaryCompanies Wafer demand 'uncertain' in Q3UMC says gearing up to meet AI demandQ2 revenue -21.9% y/y, +3.8% q/q2023 capex guidance unchanged at $3 blnTAIPEI, July 26 (Reuters) - Taiwanese chipmaker United Microelectronics Corp (UMC) said on Wednesday that it sees "uncertain" demand in the third quarter but stuck to its 2023 capital spending plans as its gears up to meet customer demand for artificial intelligence (AI). The semiconductor industry has come under pressure as global economic woes dent demand for chips used in everything from cars to cellphones. "Looking into the third quarter, wafer demand outlook is uncertain given prolonged inventory correction in the supply chain," he added. However, the company kept its guidance for capital spending this year at $3 billion, compared with $2.7 billion for last year. "We are gearing up to offer the necessary silicon interposer technology and capacity to fulfil emerging AI market demand from customers," Wang said.

Persons: TSMC, Jason Wang, Wang, UMC, Ben Blanchard, Christina Fincher Organizations: United Microelectronics Corp, chipmaker, Qualcomm Inc, Germany's Infineon, UMC's, Thomson Locations: TAIPEI, U.S, UMC's Taipei, Taiwan

Many Western companies are reviewing their supply chains and reliance on China as a manufacturing base, with Washington stepping up curbs in particular aimed at hobbling Beijing's chip ambitions and slowing its technological and military advances. Asked on an earnings call about U.S. and European chip designers shifting orders away from Chinese factories, UMC (2303.TW) co-President Jason Wang said their customers were starting to "evaluate their supply chain resilience". UMC could benefit from that, given the company makes chips in Taiwan, China, Singapore and Japan, Wang added. Global tech demand has slumped in recent months as soaring inflation, rising interest rates and a gloomy world economic outlook have led consumers and businesses to tighten spending. ($1 = 30.6960 Taiwan dollars)Reporting by Sarah Wu and Ben Blanchard Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Taiwan chipmaker UMC imposes strict cost controls over weak demand
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

"To manage this period of weakness, the company is implementing strict cost control measures and deferring certain capital expenditures where possible." The company reported a 14.8% year-on-year rise in fourth-quarter revenue to T$67.84 billion ($2.24 billion), although that was 10% down compared to the previous quarter with wafer shipments falling 14.8% quarter on quarter. Shares in UMC closed 1.1% down on Monday, underperforming a 0.7% rise in the broader market (.TWII). They have gained 10.3% so far this year, giving the company a market value of $18.7 billion. ($1 = 30.3030 Taiwan dollars)Reporting by Ben Blanchard; Editing by Edmund BlairOur Standards: The Thomson Reuters Trust Principles.

☆ Chipmaker UMC cuts capex in readiness for prolonged downturn
▼ + stars: | 2022-10-26 | by ( Sarah Wu | ) www.reuters.com time to read: +3 min

The company has revised 2022 capital expenditure down to $3 billion, compared with a previous plan for $3.6 billion, said finance chief Chitung Liu. However, expansion in Singapore and Tainan in southern Taiwan are progressing as planned to meet long-term supply commitments, Wang said. However, UMC will continue to monitor developments and "take risk-management measures as necessary", he added. Shares in UMC closed 3.4% down on Wednesday and have fallen about 41% this year. ($1 = 32.1210 Taiwan dollars)Reporting by Sarah Wu Additional reporting by Ben Blanchard Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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