Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Trending in China: Baidu Blocking Caixin’s Criticism of Search Engines Goes Viral
Trending in China: Should Restaurants Be Free to Pick and Choose Their Customers? The Strange Case of ‘Reverse Sexism’
Codemao Raises $198 Million to Teach China’s Youth Computer Programming
Tesla Challenger Xpeng Plans to Install Lidar on Electric Vehicles in 2021
Chinese Online Educator Fraud Suspect GSX Reports Losses
Investors Eat Up Dada as Grocery Delivery Specialist Posts Strong Growth
WeWork’s China Rival Completes U.S. Backdoor Listing
Trending in China: Embarrassingly Poor Quality Control of iPhone 12 Plagues Consumers
Trending in China: Are Last-Mile Logistics Companies Lording Over Their Customers?
Chinese Tech-Enabled Truckload Platform Zeyi Nets $91m in Series C Round
Trending in China: Does Click-Farming Water Down the Value of Product Reviews?
Tencent Music Goes Live in Partnership with U.S. Virtual Gig Master Wave
China Cosmetics Firm Yatsen Pops After $617 Million IPO
Chinese Biotech Startup D3 Bio Raises $200 Million in Series A Round
Beyond Meat Sinks Teeth Further Into China with Plant-Based Pork Launch
Bond Default Dominoes as Tunghsu Fails to Pay Due Interest
Trending in China: Explosive Growth of Wireless Headphones, but Are They Even Popular?
Video Streamer Bilibili Posts Strong User Growth as Losses Widen
Electric-SUV Maker Nio to Add Sedans as Tesla Rivalry Heats Up
E-Commerce Upstart Pinduoduo Plans to Raise New Funds Through Sales of Convertible Bonds and ADSs to Boost Growth
TSMC Q1 Profit Leaps on Telecom, High-Performance Computing Chips

By Ding Yi / Apr 17, 2020 04:17 PM / Business & Tech

Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC), the world’s top contract chipmaker, saw its profit nearly double in the first quarter, as strong demand for telecom and high-end computing chips helped it defy a coronavirus-induced downturn seen in many other sectors.

In the three months through March, TSMC’s net profit jumped 90.6% year-on-year to NT$117 billion ($3.89 billion), beating market expectation for a NT$108 billion profit, according to the company’s earnings report released on Thursday. Revenue jumped 42% to NT$311 billion during the period.

TSMC attributed the strong profit to growing demand for chips related to 5G smartphones and high-performance computing.

During the January-to-March period, nearly half of TSMC’s revenue came from sales of handset chips, while 30% was associated with high-performance computing. The remainder came from sales for chips used in the internet of things (IoT), consumer electronics and automotive electronics, according to the company.

Sales for chips using 7 nm technology contributed more than a third of TSMC’s total revenue in the quarter. But CFO Wendell Huang said the company’s more advanced 5 nm technology moved from the research and development stage to mass production in the first quarter, pulling down its total operating expenses by NT$2.6 billion during the quarter.

Meanwhile, TSMC said it expects its second-quarter revenue to reach between NT$304 billion and NT$313 billion, roughly the same as its first-quarter figure.

Contact reporter Ding Yi (

Related: U.S. Officials Reportedly Accept Proposal to Curb Global Chip Sales to Huawei

Share this article
Open WeChat and scan the QR code