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TSMC warns of inventory correction for fourth quarter

TSMC Co-Chief Executives Mark Liu, center, and C.C. Wei, left, and Chief Financial Officer Lora Ho, co-host the investor's conference on July 14. (Photo by Cheng Ting-Fang)

TAIPEI -- Taiwan Semiconductor Manufacturing Co., the world's biggest contract chipmaker, warned on Thursday that it may announce an inventory correction for the last quarter of 2016. However, it expects to generate record revenue for the three months ending in September thanks to shipments of core processors for Apple's new iPhones and strong demand from Chinese customers.

For the current quarter ending in September, TSMC forecast revenue at 254 billion New Taiwan dollars ($7.96 billion) to NT$257 billion, the highest in the company's history, and a 19.5% to 20.9% increase from a year ago.

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