TSMC warns chip shortage to continue
 

But profits up

TSMC said that while it is doing all it can to increase productivity and alleviate a worldwide chip shortage, tight supplies will likely continue into next year.

Speaking before very thirsty hacks and consultants at an earnings briefing, Vice President and Chief Financial Officer Wendell Huang said the company was expanding capacity and working to keep pricing reasonable.

The comments come after the Taiwanese firm reported a 19.4 percent rise in first-quarter profit, beating market expectations on strong chip demand amid a global shift to home working.

TSMC, whose clients include Apple and Qualcomm had already flagged "multiple years of growth opportunities" as the COVID-19 pandemic fuelled demand for advanced chips to power devices such as smartphones and laptops.

Its business was boosted by the chip shortage that initially forced automakers to cut production and also hurt manufacturers of smartphones, laptops, and even appliances.

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