TSMC stated that it will exit the gallium nitride business within two years.

GaN microelectronics manufacturer Navio Semiconductor announced on July 3 that its 650V component products will gradually transition from current supplier TSMC to United Microelectronics Corporation (UMC) within the next 1 to 2 years. TSMC stated that after a thorough evaluation, taking into account market and long-term business strategies, it has decided to gradually exit the gallium nitride business in the next 2 years. TSMC emphasized that the decision to gradually exit the gallium nitride business will not affect the previously announced financial targets. TSMC estimates that its US dollar revenue will grow by 24% to 26% this year.