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TSMC Warns Chip Shortages Will Continue Until 2022

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Taiwan Semiconductor Manufacturing Co (TSMC), the largest semiconductor contract manufacturer, today said it is doing its best to boost 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.

TSMC’s management announcement came against the background of the quarterly report, which recorded 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 $ 139.7 billion. Revenue in annual terms increased by 25.4% to a record $ 12.92 billion.

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