Taipei, May 21, 2012 (CENS)--Morris Chang, chairman and chief executive officer (CEO) of Taiwan Semiconductor Manufacturing Co. (TSMC), recently said that his company would manage to achieve 40% revenue growth in the next three years as scored during the 2010-2012 period.
Chang made the comments in an interview conducted by the Wan Wan China Times Group.
Chang pointed out that the ongoing global economic turmoil triggered by the European debt crisis is not as harsh as the 2008 downturn caused by the U.S. financial crisis. He noted that the 2008 financial woe called for US$3 trillion to fix whereas the European debt crisis is estimated to take around US$2 trillion to settle.
TSMC has achieved a revenue growth of 40% in the three years after Chang resumed the company's CEO post in 2009.
Chang pointed out that the company has faced three new competitors in the foundry area—GlobalFoundry, Samsung, and Intel—since he retook the position. He portrayed Intel and Samsung as “700-pound gorillas”, suggesting their formidable capital expenditures. Intel will put aside US$5 billion while Samsung will budget US$3 billion for capital expenditure this year, compared with TSMC's US$1.3 billion.
But Chang stressed that TSMC remains in an advantageous position in the competition as most heavy foundry buyers are siding with his company and their products altogether moderate threats of Intel and Samsung. He said he is not frightened by Intel and Samsung but feels awful towards them.
Chang pointed out that “his business will not disappear as long as he remains healthy”, suggesting he will serve as the TSMC top position for awhile.
(by Ken Liu)