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May 28, 2017

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TSMC to maintain growth momentum: chairman

TAIPEI, Taiwan -- TSMC (台積電) yesterday held a shareholders' meeting in the firm's Hsinchu-based headquarters, with Chairman Morris Chang (張忠謀) expressing an upbeat outlook on the company's future prospects, while recording a stellar earnings-per-share performance of NT$7.26 over fiscal year 2013.

Propelled by the global surge in demand for mobile devices and the company's leading command of 28-nanometer chip fabrication technology, revenues and profitability rose to new heights throughout last year, Chang said briskly.

Chang noted that the company is poised to reap the rewards of committing to ramped up capital expenditures over the past four or five years in the form of the projected double-digit growth anticipated for this year, outperforming all competitors in the global semiconductor sector.

The company posted the highest growth performance in 25 years out of its 27-year history, noted Cheng, adding that TSMC is prepared to meet challenges from competitors including Intel and Samsung. In particular, Cheng remarked that TSMC's technical prowess in the advanced 14-nanometer fabrication process, production output, stellar yield rates and clientele relations outperforms Samsung by a wide margin.

On the company's pursuit of the latest 10-nanometer fabrication technology, Cheng emphasized that "victory is at hand," adding that he is pleased with the progress of the endeavor.

Most notably, Cheng stated that as the company is the world's largest supplier of chips, it is poised to gain a pivotal role in the emerging global market for the technology known as the Internet of Things (IoT), which enables network-like communication between disparate devices and machines in close proximity.

In addition, the company believes that its 20-nanometer fabrication is poised to supply the next generation of mobile devices amid rapidly growing global demand, stating that sales of 20-nanometer processors are expected to reach 10 percent of overall revenues in the third quarter and 20 percent in the fourth quarter. The company declined to supply further details on its 20-nanometer chips shipments, but stated that sales contribution is expected to exceed 10 percent of overall revenues.

In response to concerns over the eventual saturation of the global smartphone market, TSMC President and Co-CEO Mark Liu (劉德音) stated that the company is poised to maintain a strong growth momentum as the fledgling IoT market takes shape through its position as a pivotal global supplier. Liu also noted that the company will also benefit from concurrent booms in automotive electronics, wired and wireless networks. Cheng added that the proliferation of IoT is poised to change all facets of daily life and society, and the company will tap into the fledgling technology by establishing advanced packaging technology and low-energy consumption sensor modules before taking on commercialization initiatives.

On the same topic Cheng stated that notions of a saturated market differs between the PC and mobile devices niches. The latter has yet to see full saturation, said Cheng, with demand still expanding rapidly throughout developing markets. Cheng noted that despite expected fluctuations in the demand for smartphone and tablet devices and the eventual slump in shipping volumes in the long-term, he has yet to seen their replacement by alternative products.

TSMC shares held steady throughout yesterday's session to close at NT$123.

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