TSMC reports 16 percent rise in 2Q profit

July 19, 2012

(AP) — Taiwan Semiconductor Manufacturing Co., the world's largest contract chip maker, says its second quarter profit rose 16 percent year-on-year and predicted continuing strong growth in the third quarter.

The company said Thursday its second quarter net was New Taiwan dollars 41.81 billion ($1.4 billion) on revenue of NT$128.06 billion.

supplies chips for use in gadgets including Apple's iPhones and iPads.

The company said that sales of its advanced technologies — 28-nanometer, 40-nanometer and 65-nanometer — accounted for 61 percent of total wafer revenues, and that shipments of the cutting edge 28-nanometer chip are expected to double in the third quarter.

Smartphones and tablet computers are the main drivers of demand for advanced chips.

Explore further: TSMC reports shrinking profit, revenue in 3Q

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