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Chipmaker TSMC cuts revenue outlook again on cryptocurrency gloom

Reuters  |  TAIPEI 

By Yimou Lee and Jess Macy YuTAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker, trimmed its annual revenue and capital spending estimates on bleak demand from smartphone and cryptocurrency mining industries.This is the second time the company has lowered its revenue outlook this year, from an initial forecast for record sales, indicating a continued sluggishness in the crypto-sector amid increased regulatory scrutiny and as miners switch to lower-powered chips due to price volatility. Revenue will likely grow in the high single-digit ...

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First Published: Thu, July 19 2018. 18:16 IST