TAIPEI (Taiwan News) — United Microelectronics Corporation (UMC) said Wednesday (Oct. 30) its Q3 revenue was NT$60.49 billion (US$1.89 billion), up 6.5% quarter-over-quarter and 6% year-over-year.

Over the first three quarters, UMC's cumulative revenue reached NT$171.91 billion, up 2.6% year-over-year, per CNA. Gross margin was 33.3%, down 2.5% from a year prior.

UMC Co-president Jason Wang (王石) at an investor conference Wednesday said revenue from specialty processes hit a new high in Q3, accounting for 53.1% of total revenue. Among this, the demand for 22 nm display driver solutions will remain strong in the coming months.

Looking to Q4, Wang said that demand in various end markets is gradually stabilizing, with inventory levels showing a significant decline.

It is expected that Q4 wafer shipments and the average selling price of products in USD will remain flat compared to Q3, Wang said. However, due to exchange rate impacts, Q4 revenue in NTD may decline.

Wang added UMC has learned from its customers that its diversified manufacturing layout is crucial for supporting their long-term strategies, per Anue. The expansion of the new plant in Singapore is nearing completion, and the collaboration with Intel is proceeding as planned, he added.