18.6% Q1 hit for top ten foundries

The decline was  influenced by weak demand leading tomdeclining capacity utilisation rates and shipment volume across the top 10 foundries.

TSMC had $16.74 billion in revenue—marking a 16.2% QoQ drop.

Samsung had a decline in both 8-inch and 12-inch wafer capacity utilisation rates, leading to ac 36.1% Q1 revenue decline – down to $3.45 billion.

GlobalFoundries  had Q1 revenue of $1.84 billion, down 12.4% QoQ.  GloFo has seen strong demand from automotive, defence, industrial equipment, and government applications in the US.

UMC had  a Q1 revenue decline of 17.6%, amounting to approximately US$1.78 billion in the first quarter. This decline was particularly notable for 28/22 nm and 40 nm processes, both decreasing by at least 20%. The company’s capacity utilisation rate for 8-inch wafers is projected to fall below 60% in 2Q23 due to a reduction in customer orders for PMIC and MCU. Its 12-inch capacity utilisation rate will benefit from urgent orders for 28/22 nm products such as Tcon and TV SoC—resulting in an estimated 80% utilisation rate.

SMIC posted $1.46 billion in Q1 revenue—a 9.8% QoQ revenue decline. Revenue from 8-inch wafers fell nearly 30%, while revenue from 12-inch wafers saw a slight increase of 1–2% due to a diverse product portfolio and support from domestic demand in China.

SMIC is expected to benefit from the recovery of orders for particular products such as Driver IC and Nor Flash and will continue to reap the benefits of Chinese demand. Both shipment volume and capacity utilization rate are anticipated to improve, resulting in revenue growth.

The most notable change was Tower Semiconductor’s ascent to seventh place. The company, supported by demand from the European market, only experienced a relatively modest quarterly drop of 11.7% (down to approximately $360 million).

PSMC had Q1 revenue of around p $332 million – a QoQ  decline of 18.7%.

VIS had a Q1 revenue of approximately $269 million – an 11.8% quarterly decline.

HuaHong Group, reported a Q1 revenue of around $845 million—down 4.2% compared to the previous quarter.

DB Hitek’s revenue stood at US$234 million, experiencing a 20% QoQ decline.

TrendForce expects a continued decline in revenue for the top 10 foundries in Q2, although at a slower rate than in the first quarter.