ASE announces capital spending cutsSEASONAL DECLINE: The company expects that revenue for next year would be flat, with the semiconductor industry as a whole expected to experience a downturn ASE Technology Holding Co (日月光投控), the world’s largest chip testing and packaging service provider, yesterday reported record-high net profits for last quarter, but also announced cuts to capital spending this year by about 10 percent as demand slows. Three months ago, ASE said that it would spend US$2 billion this year on new facilities and manufacturing equipment, with more than half the amount earmarked for chip packaging operations, but capital spending was yesterday lowered to US$1.8 billion. ASE yesterday attributed customers’ longer-than-expected inventory digestion to the capital spending cuts. The Kaohsiung-based company expects the customer inventory correction period to stretch into theBy Lisa Wang

Source: Taipei Times November 01, 2022 20:35 UTC