Nanya slashes forecast for year

Nanya Technology Corp (南亞科技) slashed its 2002 forecast for pretax profit by 63 percent on the expectation sales will falter. The company's pretax profit forecast was cut to NT$4.5 billion (US$132 million) from NT$12.2 billion, which it announced in April. Nanya also lowered its sales forecast by almost a fifth to NT$32.58 billion from its earlier NT$40.18 billion target.