Taiwan Semiconductor Manufacturing Company, a renowned manufacturer of iPhone chips & other devices, has recently released a report stating that it is gradually recovering from a crippling computer virus that caused considerable loss of revenue.
The company also reportedly informed that owing to the attack, some of the shipments might be delayed, though they did not mention names of the clients that would be affected by the delay.
An official statement by TSMC claims that the virus has not compromised any of its confidential information and that most of their clients have been made aware of the situation. TSMC CFO, Lora Ho stated that the company has previously experienced computer virus attacks, but none of them had ever impacted their production lines. Addressing the security flaw, Ho further stated that the precautionary steps to address this vulnerability have been taken and the security system has been further strengthened.
According to TSMC, around 80% of the affected fabrication tools are now back online and a full recovery is expected soon enough. The company’s estimates suggest that their third-quarter revenue may come down by about 3% with operating margins falling by about 1%. The company maintained its 2018 financial forecast of boosting their revenue by high single digits in terms of the U.S. dollar, cite trusted sources.
Apparently, the virus outbreak was due to a mis-operation that occurred when a software was being installed for a new tool. This new tool once connected to the TSMC network propagated the virus throughout the company network.
The attack’s consequences to Apple remain unknown. For the record, Apple just crossed the $1 trillion market value last week, majorly attributing to company’s smartphone segment.
As per reports, TSMC is the latest victim of the rapidly growing global plague – cybercrime which according to a report from the World Economic Forum may cause businesses an estimated $8 trillion loss in the next five years.