Taiwanese chip company TSMC is becoming increasingly optimistic about the future after a surprisingly good quarter. “We are seeing the first signs of stabilizing demand in the computer and smartphone markets,” CEO CC Wei said at an analyst conference on Thursday.
The two divisions are the most important of the company. The manager expects “very healthy growth” in the coming year, after TSMC recently recorded weak demand.
Net sales fell by more than a tenth in the third quarter to almost 547 billion Taiwan dollars (16 billion euros). The final result was a profit of 211 billion Taiwan dollars, compared to almost 281 billion the year before. However, TSMC’s quarterly profit performed better than industry experts expected.
Most important chip manufacturer in the world
Taiwan Semiconductor Manufacturing Co. (TSMC) is the main chip manufacturer for Nvidia and Apple. Like its peers, the country has recently suffered from clouded consumer confidence and China’s surprisingly weak recovery from the coronavirus pandemic.
The People’s Republic is considered the largest market for smartphones and semiconductors. During the corona pandemic, TSMC increased production capacity, also because electronic semiconductors were often scarce. However, demand collapsed due to the Russian war against Ukraine and high inflation.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
