STATS ChipPAC expects lower sales in Q2

STATS ChipPAC on Wednesday said it expects the unaudited consolidated net revenues of the group for the second quarter of this year to be about 15-17 per cent lower compared to the same period a year ago.

It will also be about 6-8 per cent lower compared to the first quarter of the year.

"This decline in net revenues reflects the generally sluggish demand in semiconductor industry, particularly from smartphones sales in emerging market, product transition in the high-end smartphones segment, and weaker demand from the personal computer segment," it said in a statement.

China's Jiangsu Changjiang Electronics Technology Co (JCET) will be buying out the company with the intention of taking it private. JCET is one of the largest Chinese electronics packaging service providers listed on the Shanghai stock exchange. It is ranked sixth in the global semi-conductor packaging and testing industry and first in China in 2014.