Mining

31/01/19 05:00 UTC-5

UMC chip manufacturing company reported fourth quarter losses

United Microelectronics Corporation, a Taiwanese chip maker, reported a revenue decline of about 10% in the fourth quarter of 2018, as reported by the CCN news agency.

Like the TSMC competitor, UMC develops chips and microchips for Bitmain miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details
equipment. According to the report for the fourth quarter, the company's profitability fell by almost 10 percent compared to the previous financial quarter. The main reason is the unstable state in the cryptocurrency market, as well as reduced demand for Bitmain products.

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United Microelectronics Corporation: poor performance in the fourth quarter

United Microelectronics Corporation (UMC) is the largest Taiwanese manufacturer of microelectronics and semiconductor products. The organization is also considered to be one of the most "ancient" in Taiwan, since it was created back in 1980. The organization is partly sponsored by the state Industrial Technology Research Institute (ITRI).

The report says that consolidated revenue in the fourth quarter of 2018 was 35.52 billion TWD (new Taiwan dollar), which is 9.8% less than in the previous quarter. At the same time, gross profit increased by 13% compared with the third quarter.

The net loss in Q4, according to the report, amounted to 1.71 billion TWD (equal to 5 520 673 US dollars). In addition, the price of the company's shares has decreased. Today, one share of United Microelectronics Corporation costs 0.14 TWD.

Co-Chairman Jason Wang commented on the situation, saying in a conference call: "Predicting the first quarter of 2019, we expect a further decline in the demand for microcircuits among our customers due to low demand for smartphones at the primary and secondary levels, as well as because of the decline in the cost of cryptocurrencies."

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The UMC chip maker claimed fourth quarter losses – according to the company's management, in the next quarter of 2019 the figures will also decrease. It is assumed that income problems are directly related to the Bitmain mining manufacturer.

Editor: Yulia Krasnaya

See also: "Fujitsu presented a blockchain system for power distribution"

#mining #damages #Bitmain #microchips #Taiwan #UnitedMicroelectronicsCorporation #UMC #mining #cryptocurrency

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