Taiwanese chipmaker TSMC reports quarterly profit of $6 billion

TSMC, the largest contract maker of processor chips, said its quarterly profit rose 16.4% year-on-year to $6 billion as demand for chips for smartphones and other electronics surged

TAIPEI, Taiwan — TSMC, the largest contract maker of processor chips, reported on Thursday that its quarterly profit rose 16.4 percent year-on-year to $6 billion as demand for chips for smartphones and other electronics surged.

Headquartered in Hsinchu, Taiwan, TSMC makes processor chips for major brands such as Apple and Qualcomm.

Chipmakers benefit from demand for next-generation telecommunications, high-performance computing and chips used in products ranging from cars to medical devices.

TSMC last year announced plans to invest $100 billion in manufacturing and research and development over the next three years.

Most of the semiconductors used in smartphones, medical devices, computers and other products are made in Taiwan, South Korea and China.

TSMC announced in October that it plans to build its first chip factory in Japan. The company and Sony later said they would jointly invest $7 billion in the facility.

Outside of Taiwan, TSMC operates a semiconductor wafer fabrication facility in Camas, Washington, and has design centers in San Jose, California and Austin, Texas.

The company has announced plans to build a second U.S. production site in Arizona amid growing concerns about America’s reliance on Asian sources of high-tech components.

.