Your Web Site
Chartered Semiconductor, which builds chips for companies like IBM and Samsung, says it is looking at a bleak economic picture for the coming months. Chartered CEO Chia Song Hwee issued a cautionary statement when the company announced earnings late Thursday afternoon. "We continue to be cautious about the worsening economic situation," he said, adding that Chartered is "dealing with the challenges of...crude oil price increases" and "a weaker US dollar." Chartered is one of the largest contract chip manufacturers in the world and competes with Taiwan Semiconductor Manufacturing Company (TSMC). Energy-related costs are negating cost-saving efforts, according to Chia. "Cost increases in items such as chemicals, process gases and supplies are nullifying the results of our cost reduction and productivity improvement efforts," he... [read full story]
