World-leading chipmaker TSMC faces losses of $255 million and production delays after its factories were hit by a computer virus outbreak during the weekend, the Financial Times reports.
The Taiwan-based company was forced to take its major production facilities offline following the outbreak on Friday night, which the company has said will reduce revenues for the third quarter by 3%. However, TSMC claims that it will be able to make up for any lost revenue during the final quarter.
Fears were raised that the virus could be the result of a hacker attack from China. The country is determined to promote its domestic semiconductors industry and has been in dispute with several foreign chipmakers in recent months. Several government agencies in Taiwan have been targeted by Chinese hackers and multinationals on the island have named cybersecurity as one of their top concerns, according to the FT.
However, TSMC has denied that the virus had any connection to hacking and said that its “confidential information” was not compromised by the outbreak.