TSMC sees global semiconductor sales growth at 5 pct
HSINCHU, Taiwan, June 13 (Reuters) - Top contract chip maker TSMC (2330.TW) (TSM.N) said on Friday global semiconductor sales will probably grow around 5 percent this year, in line with previous estimates even as the U.S. economy slows.
Soaring oil prices and the subprime crisis have been crippling the U.S. economy, and that impact has spread to some other advanced economies around the world, hampering demand for some technology products. However, new computers and snazzy mobile phones could spur fresh demand for chips that go into them, analysts said.
"This year's growth will be around 5 percent," Taiwan Semiconductor Manufacturing Co Ltd (TSMC) Chairman Morris Chang told reporters after the company's annual shareholders' meeting.
"U.S. economic growth is easing. Although it's not as severe, it will last for quite some time," Chang said.
Chang's forecast is roughly in line with the estimate by the Semiconductor Industry Association, which forecast global semiconductor sales growth of 4.3 percent to $266.6 billion in 2008.
In April, TSMC said sales in the overall semiconductor sector would log 4-6 percent growth and sales in the foundry market would exceed that level.
Late last month, TSMC said it may raise prices for its chips made by advanced process technology as semiconductor makers faced higher costs to build new factories and were feeling the pain of rising inflation.
TSMC's Taipei shares had risen 0.46 percent by 0308 GMT, outperforming the broad market's 0.09 percent gain. (US$1=T$30.4) (Reporting by Baker Li; Editing by Anne Marie Roantree)
