The current uncertain situation in cryptocurrency mining industry, combined with the relatively low demand for Apple's smartphones, has forced the world's leading semiconductor manufacturer TSMC to change the forecast for the annual profit for 2018 for the worse. This is reported by CCN.
For the whole year of 2018, we forecast the overall semiconductor market, excluding memory, will grow by 5%, while [the] foundry [market is] expected to grow by about a 8%. We forecast TSMC’s 2018 revenue in USD will be about a 10%, rather than the previously indicated 10% to 15% due to the Smartphone weakness and the uncertainty in cryptocurrency mining demand.
C. C. Wei
Co-CEO and President, TSMC
Nevertheless, Wei stressed that in the first quarter, it was miners, automakers and IoT-projects that provided more than satisfactory financial indicators of TSMC.
At the same time, the company added that in the second quarter there were some problems with the demand for 28-nanometer chips, although the remaining products "remain in demand among the representatives of the crypto-currency industry."
In 2017, thanks to the manufacturers of mining equipment, TSMC's profit exceeded the initial forecasts by 6%, while in the fourth quarter the company received 10.1% more than planned.