TSMC (Taiwan Semiconductor Manufacturing Company) forecasted that revenue growth of the global semiconductor industry will achieve 3% this year, lower than its previous projection of 4%, reported United Daily News on July 17. The downward revision is mainly due to weaker-than-expected demand for smartphones in China and emerging markets. TSMC also said that revenue of the semiconductor foundry segment would grow by 6% year on year in 2015, down from the previous forecast of 10%. However, as the company's market share is steadily on the rise, TSMC is optimistic about its future operation, expecting to continue a double-digit growth in revenues and profits in the next four years.