TAIPEI: Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker, reported yesterday its net profit dropped 34% in the first quarter from a year earlier, but it also forecast the end of a slump that started in 2001.
“TSMC’s revenue has clearly touched bottom in the first quarter of 2003, and the company has seen growth resuming in March,” TSMC said in a statement, reiterating a forecast that it would see quarter-on-quarter revenue improvement beginning in the April–June period.
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