Arab Today, arab today tsmc posts record third quarter profit but forecasts weaker sales
Last Updated : GMT 02:11:30
Arab Today, arab today
Arab Today, arab today

TSMC posts record third quarter profit but forecasts weaker sales

Arab Today, arab today

Arab Today, arab today TSMC posts record third quarter profit but forecasts weaker sales

Taipei - AFP

Taiwan Semiconductor Manufacturing Co on Thursday said third quarter net profit rose 5.2 percent on-year to a record high, but the world\'s biggest contract chip maker warned of weaker sales in the coming three months. TSMC said net profit rose to Tw$51.95 billion ($1.77 billion) in the July-September period. Revenue also hit a record high of Tw$162.6 billion, up around 15 percent from a year earlier, driven by demand for high-performance chips from smartphone and tablet makers. However, it presented a sobering outlook for the fourth quarter, when revenue is expected to fall roughly 10 percent from the previous quarter to between Tw$144 billion and Tw$147 billion. \"We expect our fourth quarter to be impacted by softer demand for certain high-end mobile devices and the inventory correction resulting from such softer demand,\" said chief financial officer Lora Ho. TSMC has said it enjoyed a surge in demand for its wafer technology since the first quarter as mobile makers ratchet up their smartphone lines amid fierce competition in the multibillion-dollar sector. In accordance with this, TSMC raised its capital expenditure estimate for 2013 to around $9.7 billion, from the previous forecast of $9 billion. US giant Apple struck a deal with TSMC in May in what analysts see as an attempt to reduce its reliance on arch-rival Samsung, the Wall Street Journal said in June. It said manufacturing of chips for Apple\'s mobile devices would start early next year.

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