The first-tier motherboard makers, which collectively shipped over 76.36 million motherboards last year, are forecasting combined motherboard shipments of 96.7 million units for this year. ASUS has set a target to ship 40 million motherboards this year, an increase of 35.6% from 29.5 million units in 2003. The shipment target should include shipments from subsidiary ASRock, foreign institutional investors said. ASRock shipped an average of 350,000 to 400,000 motherboards a month in 2003, and is likely to raise its monthly shipments to 500,000 units this year, bringing full-year shipments to six million. ECS expected its 2004 motherboard shipments to grow 20%, is now aiming for 30.7% growth from 18.36 million units in 2003 to 24 million this year. Gigabyte expects its motherboard shipments to grow 20% to 16.2 million units this year.