Tickerlog
Wednesday 30th of March 2022 04:15:18 AM

Taiwan Semi Chairman says consumer electronics demand starting to slow

Taiwan Semiconductor's (NYSE:TSM) Chairman Mark Liu said global demand for consumer electronics, such as smartphones, PCs and TV, is starting to slowdown, citing the Russian invasion of Ukraine and COVID-related lockdowns in China. Liu's comments, obtained by Nikkei Asia, also pointed out that rising component and materials costs are increasing production costs. "Such pressure could eventually be passed on to consumers," Liu said at an industry event. Taiwan Semi (TSM) shares fell slightly less than 0.5% to $108.87 in premarket trading. The semiconductor giant makes chips for a number of companies, including Apple (AAPL), Advanced Micro Devices (AMD), Nvidia (NVDA), Sony (SONY) and Broadcom (AVGO). Liu added that despite the slowdown in certain areas of tech, Taiwan Semi would not change its growth target or spending plans for this year, noting that other sectors, including automotive, high-performance computing and internet of things are picking up the slack. "We still cannot meet our customers' demand with our current capacity," Liu explained. "We will reorganize and prioritize orders for those areas that still see healthy demand." In January, Taiwan Semiconductor Chief Executive C.C. Wei said the company would spend between $40 and $44 billion on capital expenditures in 2022, citing increased demand for semiconductors. Earlier this month, Taiwan Semiconductor (TSM) said February revenue grew 37.9% year-over-year, to $5.14 billion, or NT$146.93 billion.
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