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TSMC Revenues Up on Smartphone Chip Sales

Taiwan Semiconductor Manufacturing Co., the largest contract chip manufacturer in the world, announced its revenues – which have increased for eight consecutive quarters -- should reach record levels as its chips are used in more high-end smartphones. The company bases this on greater than anticipated sales and expects double-digit growth as more 20-nanometer chips enter the market. It did not state what its current or targeted market share for high-end smartphone chips might be. It estimates its second-quarter revenue will grow NT$180 billion ($6 billion) to NT$183 billion. Increased adoption of Long-Term Evolution technology is also driving chip sales, company executives report. (Reuters)(Bloomberg)

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