Quarterly profit $8.8 billion amid surging demand: Taiwan chipmaker TSMC
Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips for smartphones and other products, said on Thursday that its quarterly profit rose 79.7 per cent over a year earlier to USD 8.8 billion amid surging demand.
Quarterly revenue rose 47.9 per cent over a year ago to USD 19.2 billion, the company reported.
TSMC, headquartered in Hsinchu, Taiwan, makes processor chips for brands including Apple Inc. and Qualcomm Inc.
Chipmakers are benefiting for demand for next-generation telecoms, high-performance computing and chips for use in products from cars to medical devices.
TSMC announced plans last year to invest USD 100 billion over the next three years in manufacturing and research and development.
Most semiconductors used in smartphones, medical equipment, computers and other products are made in Taiwan, South Korea and China.
That has prompted concern among American officials about reliance on supplies that might be disrupted by conflict betw