Nanya Technology Corp (南亞科技), Taiwan's second-largest maker of computer-memory chips, cut its budget for capital spending this year after a glut drove down prices and led to losses in the industry.
Spending will be below the company’s previously planned NT$48 billion (US$1.6 billion) as the company delays equipment installation, Nanya vice president Pai Pei-lin (白培霖) told reporters yesterday, without going into detail.
Pai was speaking after Nanya’s annual shareholders’ meeting in Taoyuan County, where the chipmaker is based.
Slower production expansion may help Nanya, which has posted four consecutive quarters of losses, narrow its deficit, Pai said.
The glut drove all major makers of the computer chips known as dynamic random-access memory, including industry leader Samsung Electronics Co, to post losses from the product last quarter.
The chipmaker would probably report a smaller loss in the three months ended Sept. 30 from the NT$8.78 billion deficit incurred in the first quarter after it raised chip prices by about 10 percent last month from April, Pai said.
Nanya may raise contract chip prices again next month, he said.
Shareholders yesterday agreed to extend the firm’s authority to raise funds by selling up to 600 million new shares after the chipmaker declined to do so last year.
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