Rising mobile chip demand lifts TSMC income
(01-17 16:17)
Taiwan Semiconductor Manufacturing Co, the world’s top contract microchip maker, said fourth-quarter profit was up 31.8 percent year on year thanks to better-than-forecast demand.
Profits in the three months to December came in at T$41.57 billion (HK$11.1 billion), compared with T$31.58 billion the previous year, the company said, AFP reports.
“In the fourth quarter, demand for our products was higher than we expected three months ago, resulting in above-guidance revenue and profit margins,'' Chief Financial Officer Lora Ho said. Revenues increased 25.4 percent to T$131.3 billion from a year earlier, the statement added.
Revenues of hand-held device chips and other communication chips gained 23 percent year-on-year to account for 50 percent of sales in October-December, the statement said.
Full-year net profit hit a record T$166.2 billion, up 23.8 percent from the previous year while revenues increased 18.5 percent to T$506.2 billion.
The company said it expects sales in the first quarter of this year, the off-peak season of the industry, to fall slightly quarter-on-quarter.
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