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