Global Microchip Maker Post Largest Profit Drop Since 2009

Oct. 27, 2011
Taiwan Semiconductor Manufacturing Co. saw 35% decrease.

Taiwan Semiconductor Manufacturing Co., the world's leading contract microchip maker, on Oct. 27 reported that its third- quarter profit tumbled 35.2 percent, the sharpest drop in two and a half years.

Net profit for the three months to September was Tw$30.4 billion (US$1.01 billion), with the latest profit figure also down 15.2% from the second quarter, the company said.

The decline was the chipmaker's biggest quarterly drop since net profit plunged 94.5% year-on-year in the first quarter of 2009 as the global economic slump hit demand for microchips.

The company also announced that it cut this year's budget for expansion by $100 million to $7.3 billion, weighed by a slowdown in demand from major markets in the United States and Europe.

Copyright Agence France-Presse, 2011

Popular Sponsored Recommendations

The Ultimate Ecommerce Excellence Checklist

Oct. 2, 2023
Scaling ecommerce operations is no easy task when your business is moving fast. Assess your current ecommerce maturity level and set optimization priorities with this practical...

Powering Up Productivity: The Transformative Power of AP Automation in Manufacturing

Oct. 25, 2023
Discover how AP Automation is revolutionizing the manufacturing industry, driving efficiency, cost savings, and security. In today's world, automation is the key to staying competitive...

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!