Taiwan Semiconductor Manufacturing Co. said its net profit in the second quarter grew 23.8 percent year over year, driven by demand for faster and power-efficient chips for mobile phones built with its new 28-nanometer manufacturing process.
The contract chipmaker’s net profit for the quarter reached NT$51.8 billion (US$1.7 billion), an increase from NT$41.8 billion in the same period a year earlier, TSMC reported on Thursday.
Revenue was at a record NT$156 billion, a year-over-year increase of 21.6 percent and at the upper end of its forecast.
TSMC is a maker of many of the chips in today’s smartphones and tablets, including processors from Qualcomm and Nvidia. The company has also reportedly signed a deal to start making chips for Apple next year. About a third of TSMC’s revenues are projected to come from smartphones and tablets in 2013.
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