TSMC released its third quarter report and announced plans to build a new plant in Japan. The largest semiconductor contract manufacturer predicts that the chip shortage hitting the industry will continue to be felt in the coming year.
The aforementioned enterprise in Japan will manufacture products according to relatively old technical processes, since it is in this segment that the deficit is most acutely felt, caused by increased demand from automakers and electronics manufacturers. Production at the plant is likely to begin only by the end of 2024.
This plan is still to be approved by the board of the company. The volume of investments in new facilities and their performance have not yet been disclosed.
As for the data of the report, TSMC’s net income for the quarter was $ 5.56 billion, well above the average forecast of 22 analysts. Compared to the third quarter of 2020, net profit increased by 13.8%. TSMC’s revenue in annual terms increased by 22.6% to $ 14.88 billion. The company raised its forecast for revenue growth for 2021 to 24%. She had previously predicted 20% growth.
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