TSMC's Chang cuts forecast, sees stall coming

LONDON – Morris Chang, chairman and CEO of leading foundry chipmaker Taiwan Semiconductor Manufacturing Co. Ltd., has warned that a slowdown is coming to the chip market and has cut his forecast for the total semiconductor market's annual growth, according to reports.

Chang, speaking during TSMC's second quarter earnings conference on Thursday (July 19), disclosed a cut in the growth forecast for the global semiconductor market in 2012 to between 1 and 2 percent, the reports said.