Taipei [Taiwan], October 27 (ANI): The world’s largest contract chipmaker Co-founder Morris Chang on Sunday said that Taiwan Semiconductor Manufacturing Co (TSMC) would continue to create miracles in the global semiconductor industry on the back of the current leadership, reported Taipei Times.

He said that trade globalization has died amid escalating geopolitical tensions during TSMC’s annual Sports Day event, pointing to heightened geopolitical tensions as a driving factor.

Chang warned that as TSMC’s position in the global supply chain strengthens, the company may face growing obstacles, the Taipei Times reported.

Although he retired in 2018, Chang expressed confidence that TSMC, the largest contract chipmaker worldwide, would continue to achieve impressive milestones under the current management. The sports day holds special significance for Chang, who enjoys witnessing TSMC employees’ enthusiasm and unity, he added.

TSMC’s steady growth relies on three core strengths: leading-edge technology, manufacturing prowess, and solid client trust, Chang explained.

Recognised as a key figure in Taiwan’s semiconductor industry, Chang has built TSMC into the largest pure-play foundry globally, often earning him the title “father of semiconductors” in Taiwan.

Current chairman C.C. Wei, who succeeded Mark Liu in June, stated that TSMC has faced numerous challenges over its 37-year history and is approaching a new milestone with the 2-nanometer process development moving ahead as scheduled, reported Taipei Times.

Mass production of the 2-nanometer process is planned for next year, with work on the advanced A16 process, a refined version of 2-nanometer technology, expected to commence commercial production in the latter half of 2026, Wei noted.

TSMC’s international expansion efforts are also on track, reflecting the company’s increasingly critical influence within the global semiconductor sector, Wei added.

In honour of sports day, TSMC rewarded each non-managerial employee in Taiwan with a NT $20,000 (USD 623.61) bonus.

Approximately 60,000 Taiwan-based employees who joined before May 31 were eligible for the payout, amounting to an estimated NT $1.2 billion in total. Wei referred to this bonus as a “small gift” for TSMC’s workforce.

For the first nine months of this year, TSMC reported a net profit of NT $798.59 billion, up by 33.1 percent year-over-year. The company also forecast nearly 30 percent annual growth in sales this year in US dollar terms, Taipei Times reported.

While TSMC’s sports day had been suspended for three years due to the COVID-19 pandemic, the company still issued employee bonuses of NT $12,000 in 2020 and NT $16,000 in 2021 and 2022. (ANI)