Chip shortage will continue till 2022: TSMC

Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract manufacturer of semiconductor products, today said it is doing everything it can to increase production and reduce chip shortages, but this is likely to continue into the next year.

The head of the company said that TSMC is already building new facilities, for which land and equipment have been purchased. At the same time, the manufacturer recruits “thousands of new employees” and expands the capabilities of existing industries.

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TSMC’s management announcement came amid a quarterly report that posted a 19.4% increase in profit, exceeding analysts’ expectations. The company’s success is due to the steady demand for electronics in connection with the transition of a huge number of people to remote work and training.

TSMC’s first-quarter net income was $ 4.93 billion. Revenue in annual terms increased by 25.4% to a record $ 12.92 billion.

(Via)