World’s Largest Chipmaker, TSMC, Registers Profits Drop Amid Continued Electronics Demand Decline

  • TSMC posts a 23.3% year-on-year drop in Q2 net income, marking the first since Q2 2019 due to ongoing inventory adjustments.
  • Company’s revenue also dipped by 10% over the same period to NT$480.84 billion against an earlier forecast of $15.2-$16 billion.
  • Despite the slump, TSMC expects Q3 support from the ramping of its 3-nanometer technologies, which includes anticipated orders from Apple for its upcoming iPhone.
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