TSMC cleans up
 

While the rest of the world is suffering from a slow down, Taiwan Semiconductor Manufacturing reported its eighth straight quarter of profit growth.

The world's largest contract chipmaker reported wider profit margins following a boost in demand from mobile device manufacturers.

Asia's 10th biggest company by market value has done rather well thanks to the spread of smartphones, which its rivals - like Intel - did not really see coming.

Net profit rose 21 percent to $1.59 billion in January-March, the company said in a statement on Thursday. That compared with the $1.43 billion that the cocaine nose jobs of Wall Street expected.

The company previously reported first-quarter revenue of $4.92 billion, 11.7 percent more than a year earlier, and 7.3 percent more than forecast in January.

TSMC had earlier forecast double-digit profit growth this year as its 20 nanometer process begins to take over from 28 nanometer. TSMC began manufacturing with 20 nanometer technology in January-March.

http://news.techeye.net/business/tsmc-cleans-up