TSMC says it remains committed to Taiwan investment plans amid reports of slowdown.

Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, confirmed its commitment to investment plans in the southern Taiwanese city of Kaohsiung, according to the country’s Economy Minister Wang Mi-hua. Is. It was in response to one. Report by DigiTimes which claimed that the chipmaker was slowing its expansion plans in Kaohsiung and other cities in Taiwan.

“TSMC is making Taiwan its global R&D center and manufacturing hub,” Wang said. “The TSMC investment in Taiwan, the investment in Kaohsiung, is also unchanged.”

TSMC started construction of its Kaohsiung plant last year. The plant will produce 28 nanometer semiconductors. Although the company initially planned to include advanced 7-nanometer chips in the expansion, it postponed those plans.

TSMC recently increased its investments overseas to offset semiconductor shortages that occurred during the pandemic. The company has announced new chip factories in the US and Japan. However, it is still committed to its operations in Taiwan. Plans to build more fabs come amid growing demand for semiconductors, which are used in a range of products from smartphones to cars. TSMC’s clients include major tech giants such as Apple, Nvidia, and Qualcomm.

The chip maker had. Announced earlier That it expects lower demand due to the slowdown in the global economy and will reduce its capital spending this year to $32-$36 billion, from $36.3 billion last year.

Source: Reuters