November 28, 2023

Taiwan Economy Minister Wang Mei-hwa speaks during an interview with Reuters in Taipei, Taiwan, September 30, 2021. REUTERS/Ann Wang

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TAIPEI (Reuters) – The order books for both mature and advanced semiconductor nodes of Taiwanese chip companies are still very full amid concerns about slowing technology-related demand, Economy Minister Wang Mei-hwa said on Wednesday.

A much weaker-than-expected business outlook by memory chip-powered Micron Technology Inc (MU.O) last Thursday raised concerns that the industry, after nearly two years of strong demand, is headed into a downturn. This helped drop some global technology stocks. Read more

Speaking to reporters in Taipei, Wang said Taiwan’s chip industry is a world leader.

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“Their orders at the moment are still very full,” she said, referring to mature and advanced semiconductor chips.

“At the moment the business appears to be strong for Taiwan’s semiconductor industry.”

Taiwanese chip companies have taken advantage of the global shortage of semiconductors, keeping their factories operating at full capacity and spearheading new expansion plans.

Earlier Wednesday, chip maker United Microelectronics Corp (2303.TW), whose clients include Qualcomm Inc (QCOM.O) and Germany’s Infineon (IFXGn.DE), reported that June sales rose 43.2% year-on-year, With sales of the first half. It jumped 38.2% year over year.

Taiwan’s Foxconn (2317.TW), the world’s largest contract electronics maker, raised its full-year business outlook on Monday, reflecting strong sales of smartphones and servers, despite concerns about slowing demand due to rising inflation. Read more

Taiwan Semiconductor Manufacturing Co Ltd (2330.TW), the world’s largest contract chip maker and Asia’s highest-value listed company, will report its second-quarter earnings late next week.

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(Reporting by Ben Blanchard and Yimo Lee) Editing by Andrew Heavens and Edmund Kellman

Our criteria: Thomson Reuters Trust Principles.

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