fbpx
FedEx Establishes Direct Presence in Nigeria to Support Customers with International TradeRead more Open Society Foundations (OSF) Award $1.1 Million Grant to Afrobarometer to Spur Future GrowthRead more The annual Global Impact Conference 2022 brings together visionary business leaders to revolutionize educational systems and inspire collaborative actionRead more APO Group announces content partnership with Pan-African broadcaster VoxAfricaRead more MainOne, an Equinix Company’s MDXi Appolonia Achieves Tier III Constructed Facility certification (TCCF), Now Most Certified Data Center in GhanaRead more United Nations High Commissioner for Refugees (UNHCR) warns rising tide of hunger, insecurity, and underfunding worsening gender-based violence risksRead more The Royal Thai Embassy presents the cultures of Thailand at the Association of Southeast Asian Nations (ASEAN) Festival in KenyaRead more Climate change is the biggest global threat, young people in Africa and Europe tell European Investment Bank (EIB), Debating Africa and Debating EuropeRead more $2 million in prizes awarded at Conference of the Parties (COP27) to African youth-led businessesRead more Africa and Europe’s top business and public sector leaders gather to chart Africa’s economic rebirthRead more

Chipmaker TSMC’s sales buck estimates, competition slowdown

show caption
TSMC's factory in Nanjing, China./AFP
Print Friendly and PDF

Oct 07, 2022 - 11:50 AM

TAIPEI, TAIWAN — Taiwanese semiconductor giant TSMC posted better-than-expected third-quarter profits on Friday as rivals warn that demand for consumer electronics is being hit by the global economic downturn.

Taiwan Semiconductor Manufacturing Company operates the world’s largest silicon wafer factories and produces some of the most advanced microchips used in everything from smartphones and cars to missiles.

Revenue for September was approximately TW$208.25 billion ($6.6 billion), down 4.5 percent from the month before but an increase of 36 percent from September last year.

Third-quarter revenue at the world’s largest contract chipmaker also rose 48 percent on-year to about TW$613 billion ($19.4 billion), according to Bloomberg News calculations.

TSMC’s results came the same day biggest rival Samsung Electronics warned it expects operating profits in the third quarter to fall 32 percent.

They also came as preliminary third-quarter sales at US chipmaker Advanced Micro Devices (AMD) missed projections by more than $1 billion.

TSMC’s results did not contain a forecast but the company is more shielded from a downturn in part because it produces some of the most advanced and smallest chips which are still highly sought after and in short supply.

The Taiwanese firm controls more than half of global foundry output, with clients including Apple and Qualcomm.

MAORANDCITIES.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.