Published on July 20th, 2018 | by bitcoin0
Chip Manufacturer Cuts Revenue Forecast Again Due to Low Demand for Crypto Miners
According to analysts, the company could face slowing demand for high-end chips used in crypto mining, as miners choose lower-powered chips due to price volatility and stricter regulations in the industry.
During the April and June quarter, TSMC registered a 9 percent increase in net profit from the previous year to $2.3 billion.
Sales to the personal computer industry were 21 percent of totaled revenue, 12 percent up compared to the previous year.
Revenue reportedly rose 11 percent and reached $7.85 billion, which is in line with the company’s forecast made in April.
TMSC previously lowered its revenue forecast in April from a growth rate of 15 percent to 10 percent.