ASE Technology October sales hit 23-month high

Taipei, Nov. 11 (CNA) ASE Technology Holding Co., the world's largest IC packaging and testing services provider, reported on Monday that its October sales hit a 23-month high.

In a statement, ASE Technology said it posted NT$56.43 billion (US$1.75 billion) in consolidated sales in October, up 1.5 percent from a month earlier and up 0.5 percent from a year earlier.

The October figure was the highest monthly sales since November 2022, when the company's sales stood at NT$60.11 billion.

ASE did not detail the reasons for the increase in sales.

In the first 10 months of this year, ASE Technology's consolidated sales rose 2.53 percent from a year earlier to NT$489.57 billion.

Market analysts said ASE Technology's sales for the fourth quarter could fall about 1 percent from a quarter earlier to about NT$159.0 billion in the wake of slow season effects.

ASE Technology has said it will continue to work with contract chipmaker Taiwan Semiconductor Manufacturing Co., which has entered the advanced IC assembly business, and pour more funds into high-end processes such as 3D Chip-on-Wafer-on-Substrate (CoWoS) IC packaging services, which have been in high demand due to the rising popularity of artificial intelligence applications.

Analysts said ASE Technology is expected to roll out 10,000 chips based on the CoWoS technology a month next year, doubling the level in 2024.

The company has forecast sales generated by its advanced assembly and testing services will rise about 100 percent from a year earlier in 2025.

Last week, ASE Technology said it has taken a step toward investing in Mexico by purchasing a "significant" parcel of land in the country to build a IC packaging and testing base.