TSMC posted a third quarter profit of NT$211 billion – its largest profit decline since first quarter 2019 – as weak demand for consumer electronics persists.
TSMC posted a third quarter profit of NT$211 billion on Thursday – its second straight quarter of profit decline – as weak demand for consumer electronics persists.The Taiwanese chipmaker is the top producer of the world's most advanced processors, but demand for consumer electronics has plunged post-pandemic.reported a third-quarter profit of 211 billion New Taiwan dollars on Thursday as weak demand for consumer electronics persists.
The chip giant said that revenue increased 13.7% in the third quarter as compared to the second quarter.due to a post-pandemic plunge in the demand for consumer electronics like smartphones and laptops. But analysts have said chip inventories at smartphone and PC makers are running down and they expect restocking demand to come back.
"Due to the persistent weaker overall macroeconomic conditions and slow demand recovery in China, customers remain cautious in their inventory control. That's why we expect the inventory digestion to continue in the fourth quarter," said Wei. TSMC is the top producer of the world's most advanced processors. The Taiwanese firm manufactures semiconductors for companies like"Bolstered by regional recoveries and new product upgrade demand, the smartphone market recorded a double-digit sequential growth in Q3, ahead of the sales seasons," said Canalys in a Tuesday report.The demand for AI chips driven has boomed led by the proliferation of large language models such as ChatGPT and Chinese clones.
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