Taiwan’s largest chip testing and packaging company posted lackluster results for 2024, highlighting persistent weakness in the semiconductor industry. ASE Technology Holding Co. reported annual revenue of NT$595.4 billion ($18.6 billion), a modest 2.3% increase from 2023 in local currency terms.
The company’s December sales reached NT$52.9 billion, up 6% from a year earlier, but showed a slight decline from November. The sequential drop signals that the anticipated recovery in chip demand may take longer than expected.
The testing and assembly unit proved to be a bright spot, with December revenue jumping 13.9% year-over-year to NT$29.9 billion. This division’s stronger performance suggests automotive and high-performance computing segments remain resilient despite broader market headwinds.
Currency fluctuations impacted the full-year results, with dollar-denominated revenue actually declining 0.5% to $18.6 billion, even as local currency sales increased. The divergence underscores the challenges Taiwanese tech companies face from foreign exchange volatility.
The mixed results come as semiconductor companies grapple with inventory corrections and uncertain demand outlook for 2024.
