Taiwanese chip maker TSMC announces quarterly profit of $8.8 billion | WGN Radio 720

TAIPEI, Taiwan (AP) — Taiwan Semiconductor Manufacturing Co., the largest contract manufacturer of processor chips for smartphones and other products, posted quarterly profit on Thursday amid soaring demand. announced a 79.7% year-over-year increase to $8.8 billion.

The company reported that quarterly revenue increased 47.9% year-over-year to reach $19.2 billion.

Headquartered in Hsinchu, Taiwan, TSMC makes processor chips for brands such as Apple Inc. and Qualcomm Inc.

Semiconductor manufacturers are benefiting from demand for next-generation communications, high-performance computing, and chips used in products from automobiles to medical devices.

Last year, TSMC announced plans to invest $100 billion in manufacturing and research and development over the next three years.

Most of the semiconductors used in smartphones, medical devices, and personal computers are made in Taiwan, South Korea, and China.

This has raised concerns among U.S. officials about their dependence on supplies that could be disrupted by the dispute between China and Taiwan. I am working to establish

Last year, TSMC announced plans to build its first chip factory in Japan. The company and Sony later announced that they would jointly invest $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 manufacturing facility in Arizona.