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Read more with google mobile : UMC Dec sales mark biggest drop in near 7 yrs
Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Search Search: UMC Dec sales mark biggest drop in near 7 yrs Reuters - 22 minutes ago By Baker Li TAIPEI, Jan 8 - December sales at Taiwan's UMC <2303.TW>, the world's No.2 contract chip maker, fell 45.5 percent, its biggest drop in near seven years due to weaker tech demand, and the pain could continue into early 2009. As the global economy slows, UMC <UMC.N> and sector leader TSMC <2330.TW> <TSM.N> have slashed their fourth-quarter guidance after consumers were relactant to spend on new computers, mobile phones and flat-screen TVs that use microchips. Taiwan's economy as a whole suffered a severe slump in December, with exports tumbling a record 42 percent. [ID:nTP4588] United Microelectronics Corp said on Thursday it had sales of T$4.61 billion last month, down from T$8.46 billion a year ago and November's T$6.02 billion. That brought its total sales to T$92.53 billion in 2008, down 13.3 percent from 2007, the statement said in a statement, without explanation. For a graphic on UMC's monthly sales, click on: https://customers.reuters.com/d/graphics/TW_UMC0109.gif "We do not see meaningful upside catalysts with the company dropping to a loss and seeing continued weak trends at most of its leading edge customers," Credit Suisse analyst Randy Abrams said in a note earlier this week. U.S. tech bellwether and microchip maker Intel Corp <INTC.O> on Wednesday issued its second revenue warning on the fourth quarter, saying demand for personal computers was even worse than it feared, weighing on shares. [nL8571572] UMC posted a third-quarter loss, its first net loss in seven years, after slower demand hurt chip sales and prices. UMC is set to release its October-December quarter earnings and give first-quarter guidance in February. UMC announced the sales after the Taipei stock market closed on Thursday. UMC shares were unchanged at T$8.06, while Taiwan's main TAIEX share index <.TWII> shed 5.3 percent, its biggest one-day percentage drop in two months on . Shares of TSMC, whose December sales due out on Friday, fell 6.7 percent to T$41.55 after Intel's warning. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Asia Pacific Thai soldiers must face justice for imam's death: rights groupAFP - 15 minutes ago Gunmen shoot anti-government editor in Sri LankaAP - 20 minutes ago China blames global slowdown for tourism woesAFP - 21 minutes ago UMC Dec sales mark biggest drop in near 7 yrsReuters - 22 minutes ago Indonesian Muslims storm KFC over Israeli raidsAFP - 34 minutes ago Most Popular – Asia Pacific Viewed Shares skyrocket as Porsche takes over Volkswagen Marks & Spencer to axe 1,230 jobs and close 27 stores Toyota to shut production plants for 11 days Israel approves tougher war on Hamas Pink iguanas discovered on Galapagos Islands View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular
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Thursday, 8 January 2009 - UMC Dec sales mark biggest drop in near 7 yrs