Chip manufacturer Taiwan Semiconductor Manufacturing Company (TSMC) achieved more profit and revenue in the third quarter, helped by strong chip sales for the latest iPhones. TSMC is one of the world’s largest makers of smartphone chips for companies such as Apple, Samsung and Huawei. The group is also an important customer of the Dutch chip machine manufacturer ASML.
The turnover amounted to 293 billion Taiwanese dollars, converted to 8.8 billion euros. That was more than 260 billion Taiwanese dollars a year earlier. Net profit amounted to 101 billion Taiwanese dollars, an increase of 13.5 percent compared to a year earlier. The results turned out better than analysts expected.
On the stock market, the TSMC share has risen to a record level due to optimism about the new Apple iPhones that were unveiled in September. Earlier this month it was reported in business media that Apple has increased production of iPhones thanks to the popularity of the latest smartphones.