Taiwan Semiconductor Manufacturing Co. reported a third straight quarter of record sales, underscoring its lead as the world’s No. 1 maker of the advanced chips that are currently in short supply.

Taiwan’s largest company said first-quarter revenue climbed 17% to NT$362.4 billion ($17.07 billion), compared with the average NT$360.5 billion of analysts estimates.

TSMC manufactures chips that go into most pieces of modern electronics, from Apple Inc.’s iPhones to smart televisions and connected cars, making it a lynchpin of the global supply chain. With economies starting to emerge from the coronavirus pandemic, silicon demand has vastly outstripped supply in recent months, forcing automakers to idle plants for up to weeks at a time and fueling a shortage of popular consumer products like game consoles.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook