The logo of United Microelectronics Corporation (UMC) is seen at the company’s lobby at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. REUTERS/Ann Wang
TAIPEI (Reuters) - Taiwanese chipmaker United Microelectronics Corp (UMC) said on Wednesday it sees gradually stabilising demand in the fourth quarter with recent "rush orders" for personal computers and smartphones, but added that customers remain cautious. The semiconductor industry has come under pressure as global economic woes dent demand for chips used in everything from tablets to cellphones and cars. UMC's bigger Taiwanese rival TSMC, the world's largest contract chipmaker, said last week the semiconductor industry could be poised for recovery, predicting healthy growth for itself next year and a drop in industry inventory levels. In an earnings release, UMC 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.
