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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (46726)	5/14/2001 6:20:19 PM
From: Proud_Infidel	Respond to of 70976

Taiwan's UMC sees no chip recovery until 2002-AWSJ TAIPEI, May 14 (Reuters) - Taiwan's United Microelectronics Corp (UMC) (NYSE:UMC - news), the world's second largest contract chipmaker, does not expect demand for microchips to improve until next year, the Asian Wall Street Journal reported on Monday. The view contrasts with that of Taiwan Semiconductor Manufacturing Co (NYSE:TSM - news), the largest contract chipmaker or foundry, which sees an upturn in the third quarter of this year with greater improvement in the fourth quarter. The Journal quoted UMC Chairman John Hsuan as saying a recovery in the second half was only possible if major communications firms such as Cisco (NasdaqNM:CSCO - news) or Nortel Networks (Toronto:NT.TO - news) wrote off inventories. Hsuan said it would take the rest of 2001 to work through inventories of communications chip firms without writeoffs. By 0240 GMT, UMC shares were unchanged at T$52.50, outperforming the TAIEX (^TWII - news) share index, which was down 1.06 percent.