Taiwanese chip giant TSMC booked a record turnover in the first quarter of 2022. Rising demand played a major part.

Chip demand remains extraordinarily high. In the first quarter of 2022, TSMC booked a record turnover of 17 billion US dollars (approximately 16 billion euros). The figures rose by 36 percent in one year’s time.

A continuing shortage of chips

According to the chip manufacturer, the high demand for automotive chips, smartphones and other computers is the main reason for the sales figures. Due to the current chip shortage, TSMC expects strong demand to continue in the near future.

TSMC also announced that it hopes to maintain its production capacity in China. However, due to recent COVID-19 restrictions major cities such as Shanghai and Shenzen, the chip manufacturer will make short-term adjustments to its Chinese capacity.

Tip: Taiwan sees an opportunity for cooperation with the European Union on chips