Apple supplier TSMC has announced its record revenue for the first quarter of this year. Apple is one of the supplier’s largest client corporations, mainly due to its production of numerous silicon chips used by the Cupertino-based giant.
The Taiwanese semiconductor foundry published a one-page revenue report citing that revenue increased by 35% compared to last year’s first quarter:
“TSMC today announced its net revenue for March 2022: On a consolidated basis, revenue for March 2022 was approximately NT$171.97 billion, an increase of 17.0 percent from February 2022 and an increase of 33.2 percent from March 2021. Revenue for January through March 2022 totaled NT$491.08 billion, an increase of 35.5 percent compared to the same period in 2021.”
The company stated that a more detailed report with full earnings will be published later this month.
Bloomberg business outlet has already reported more details on the current situation with the supply chain, as TSMC was able to retain production in China following an aggressive COVID-19 lockdown which has affected the system of many other factories there:
“TSMC has kept production running in China, even as many other factories suspended operations to cope with the local pandemic policy. The chip assembler said in end-March that it will rearrange production priorities to deal with a shift in demand caused by Covid restrictions in Shanghai and Shenzhen. TSMC wasn’t planning to revise down its sales and capital spending forecasts for 2022, Chairman Mark Li said at the time.”
Finally, Bloomberg cites that despite the ongoing chip shortage, demand for mobile phones, smart TVs, and other electronics remain very high in the major markets of the U.S. and Europe as they exit the COVID-19 pandemic lockdowns and restrictions:
“Demand for mobile phones, smart televisions, and other gadgets from makers such as Apple Inc. and Samsung Electronics Co. remains robust even as consumers in major markets in Europe and the U.S. exit pandemic-era lockdowns and work-from-home arrangements.”