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TSMC well-positioned to meet challenges: CEOs

TAIPEI, Taiwan -- Taiwan Semiconductor Manufacturing Co. (台積電) yesterday reported record-high 2013 fourth-quarter earnings on the back of continued strong demand in mobile consumer devices, while stating with confidence that the company is well positioned to meet challenges from competitors in the sector.

The company announced consolidated revenue of NT$145.81 billion, net income of NT$44.81 billion and diluted earnings-per-share of NT$1.73 for the fourth quarter of last year.

TSMC Confident in its Technical Lead

During his address, company chairman Morris Chang (張忠謀) stated that the company will continue to capture the rapidly expanding market demand in mobile devices, with performance expected to exceed sector averages.

According to Chang, mobile devices remain the company's primary earnings driver, representing about 35 percent of sales. Global shipments of mobile devices are expected to grow by 25 percent this year, among which high-end smart phones are projected to grow by 8 percent, while higher volume mid-range and low-end devices are expected to grow by 22 percent and 45 percent, respectively, said Chang. Tablet computer shipments are forecasted to see an increase of 21 percent. During his address, Chang remarked that the company is well-positioned to provide updated product specifications amid evolving connectivity standards such as near field communications (NFC), Bluetooth, Wi-Fi, in addition to fingerprint recognition and Micro-Electro-Mechanical Systems (MEMS) solutions.

Incidentally, throughout yesterday's earnings conference, Chang remained on his feet at the podium after handing the floor to Co-CEOs CC Wei (魏哲家) and Mark Liu (劉德音), and personally fielded numerous questions from institutional investors, further disproving rumors of his ailing health.

Chang also stated he now plays the role of a coach following the appointment of Wei and Liu as Co-CEOs, while hoping for a smooth transition towards a more American model of corporate leadership.

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Morris Chang, center, Chairman of the Taiwan Semiconductor Manufacturing Company, takes the stage at an earnings conference, yesterday, accompanied by Mark Liu (劉德音), left, and C.C. Wei (魏哲家), who were appointed to lead the company as Co-CEOs.

(CNA)

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