TAIPEI -- Taiwan Semiconductor Manufacturing Co, the world's biggest contract chipmaker, is signalling the semiconductor slump is nearing its end despite predicting a decline in revenues for the second quarter.
"We believe we may have passed the bottom of cycle of our business," said CEO C.C. Wei, as he unveiled a 31% drop in net profits for the first three months of the year. "We are seeing customers' demand stabilizing. We also see customer's inventories will be substantially reduced...by about the middle of this year."