Quarterly profit $8.8 billion amid surging demand: Taiwan chipmaker TSMC

TSMC, the biggest contract manufacturer of processor chips for smartphones and other products, said its quarterly profit rose 79.7 per cent over a year earlier to USD 8.8 billion amid surging demand

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 between China and Taiwan. They are lobbying TSMC and other chipmakers to set up factories in the United States.

TSMC announced plans last year to build its first chip factory in Japan.

The company and Sony Corp. later said they would jointly invest USD 7 billion in the facility.

TSMC operates a semiconductor wafer fabrication facility in Camas, Washington, and design centers in San Jose, California, and Austin, Texas.

The company has announced plans for a second US production site in Arizona.