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Chipmaker TSMC says demand is growing as revenue grows by 16.7%

Taiwan, Taiwan (AP) – Taiwan Semiconductor Manufacturing Co., the world’s largest contract chip maker, said on Friday that its revenue rose 16.7% in the previous quarter a year after the global economy recovered from the coronavirus epidemic.

Revenues for the three months to March rose to 362.4 billion Taiwan dollars ($ 12.7 billion), according to the Taipei-based company. March revenue rose 13.7% year-on-year to Taiwan $ 129.1 billion ($ 4.5 billion).

TSMC manufactures chips for major brands, including Apple Inc., Qualcomm Inc., and most semiconductors used in smartphones, medical devices, computers, and other products are made in Taiwan, South Korea, and China.

The epidemic increased the demand for electronic equipment as more people worked from home. The revival of the global economy has helped to restructure the demand for automotive and other consumer products that depend on processor chips.

TSMC announced this week that it plans to invest $ 100 billion over the next three years to expand production, research and development.

Earlier, the company announced plans to invest $ 3.5 billion in a manufacturing facility in North Phoenix, Arizona, as concerns grew over Americans’ dependence on high-tech Asian sources.

TSMC also operates a semiconductor waffle plant in Kamas, Washington, DC, design centers in San Jose, California, Austin, Texas.


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