Taiwanese chip group Taiwan Semiconductor Manufacturing Company (TSMC) also benefited in the third quarter from strong global demand for chips and shortages in semiconductors.
TSMC is one of the largest chip manufacturers in the world and a major supplier to Apple. TSMC is also a significant customer of the Dutch chip machine manufacturer ASML.
TSMC’s net profit increased by 14 percent year-on-year in the past period to more than 156 billion Taiwan dollars, or 4.8 billion euros. TSMC had previously reported that turnover had risen to the record level of 12.7 billion euros.
Due to the high demand for chips, TSMC is significantly increasing its production capacity. The company is earmarking tens of billions for this. Apple is said to be planning to cut production of the new iPhone 13 due to a lack of chips. TSMC indicated that capacity shortages are expected to continue into 2022.
The company also announced that it would build a new factory in Japan. This location should start production at the end of 2024.