Winbond's results disappoint

Winbond Electronics Corp (華邦電子) posted a greater-than-expected net loss in the second quarter on lower prices and a write-down on the value of its inventory. The NT$2.139 billion (US$63 million) loss, the company's fifth in six quarters, was little changed from a loss of NT$2.135 billion a year ago. Sales rose almost a quarter to NT$7.7 billion, Winbond reported earlier. The company said it had to write down the value of its chip inventory by NT$833 million as the average price for computer memory chips fell 26 percent from the first quarter. While chip prices are expected to remain low for the rest of the year, they should exceed those in the second quarter, Winbond said.