TAIPEI (Taiwan News) — United Microelectronics Corporation said Tuesday its Q4 2024 revenue was NT$60.39 billion (US$1.84 billion), down 0.2% quarter-over-quarter.

The chipmaker said in a press release its cumulative revenue for last year was NT$232.3 billion, up 4.4% year-over-year. The gross margin was 32.6%, down 2.3 percentage points compared to last year.

UMC Co-President Jason Wang (王石) said communications technology growth and computer demand were the main drivers of revenue growth in 2024, per CNA. The 22 nm and 28 nm nodes accounted for a significant portion, reaching 34% of revenue.

Wang estimated the capacity utilization rate in Q1 2025 would approach 70%, with wafer shipments remaining flat. He added that strong demand for AI servers, coupled with smartphones and computers, is expected to drive about 10% growth in the semiconductor market.

Regarding the company’s planned Singapore plant, Wang said mass production is still on schedule for next year.

Additionally, UMC reported no injuries following a magnitude 6.4 earthquake that struck southwest Taiwan on Tuesday. The company said it is working closely with customers who were affected.