TSMC sees record-breaking earnings from iPhone 12 demand

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Processor manufacturer TSMC reports record earnings for the quarter ending December 2020, believed to be attributed to demand for the 5G iPhone 12 range.

Following Foxconn's reports of record-breaking demand for 5G iPhones, processor manufacturer TSMC has also seen its highest-ever quarterly earnings for the same reason.

According to Bloomberg, TSMC has announced that its December 2020 earnings were $4.2 billion. Bloomberg estimates that this brings the quarterly revenue to a record $12.93 billion.

Similarly, revenue for the whole of 2020 is estimated to be up 25% from 2019, coming in at around $46.7 billion. TSMC is to officially announce its finances in an earnings call on January 14.

TSMC produces the A14 Bionic processor, amongst others, for Apple's iPhone 12 range. Separately, it's recently been reported that Apple has taken the whole of TSMC's new 3nm chip process's production capacity for future iPhones, iPads, and Macs.