Home Internet Taiwan chipmaker TSMC says profit up 11.2% as demand rises

Taiwan chipmaker TSMC says profit up 11.2% as demand rises

by Mary Sewell

TAIPEI, Taiwan — TSMC, the biggest contract manufacturer of processor chips for Apple Inc. and other global brands, said Thursday its latest quarterly profit rose 11.2% over a year earlier to $4.8 billion as demand for smartphones and consumer electronics increased.

Sales in the three months ending June 30 rose 19.8% to $13.3 billion, said the company, headquartered in Hsinchu, Taiwan.

The company, whose customers also include Qualcomm Inc., said it plans to invest $100 billion over the next three years to expand manufacturing and research and development in April.

Most semiconductors used in smartphones, medical equipment, computers, and other products are made in Taiwan, South Korea, and China. Shortages have cropped up as supply failed to keep up with demand.

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

It has announced plans to invest $3.5 billion in a second U.S. manufacturing site in North Phoenix, Arizona, as concern grows over heavy American reliance on Asian sources for high-tech components.

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