TSMC to expand into LED, solar energy businesses
Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract manufacturer of microchips by revenue, plans to explore business opportunities in the green energy sector, including light-emitting diodes (LEDs) and solar energy.
The plan is in line with the company's goal to diversify its revenue channels besides its foundry business.
Morris Chang, chairman and CEO of TSMC, said the green energy sector will help boost the company's business and is estimated to bring US$2 billion in revenue by 2018. Meanwhile, revenue from its chip foundries will rise to between US$14 billion and US$15 billion.
TSMC has decided to set up a new business development unit and Rick Tsai has been appointed to head the unit.
During the first three months of this year, TSMC reported profits of NT$1.56 billion.
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