Taiwan Semiconductor Manufacturing Company expects its revenues to reach the level of 2008 already next year. Besides, the head of the company claims that the global chip market will recover in 2011. This is the second time Morris Chang, chief executive of TSMC, revises his market forecast this year.

Mr. Chang said on Monday that the TSMC’s sales in 2010 will surpass revenues for 2008, inline, or even a bit ahead with the recovery of the industry. Still, in general, the chip market would return to the 2008 level in 2011, according to Morris Chang, reports DigiTimes web-site. Even though TSMC's recent purchases of production equipment do indicate that the chip industry is recovering, the head of TSMC outlined that the industry was getting better from a quick drop in the second half of 2008, and many sectors had yet to see their shipments return to the 2008 levels.

Earlier this month TSMC announced its net sales for September 2009: on an unconsolidated basis, net sales were approximately NT$28.02 billion ($866.858 million), a decrease of 3% from August 2009 and a decrease of 0.8% from September 2008. Revenues for January through September 2009 totaled NT$196.75 billion ($6.086 billion), a decrease of 24.6% compared to the same period in 2008.

On a consolidated basis, net sales for September 2009 were approximately NT$28.94 billion ($895.321 million), a decrease of 3.0% from August 2009 and a decrease of 1.3% from September 2008. Revenues for January through September 2009 totaled NT$203.65 billion ($6.3 billion), a decrease of 24.2% compared to the same period in 2008.

Tags: TSMC, Semiconductor, Business