Taiwan�s TSMC Q3 profit jumps to forecast-beating record

TAIPEI, Oct 25: Taiwan Semiconductor� Manufacturing Co Ltd (TSMC)� reported record quarterly profit with a better-than-expected 62 percent rise, as robust sales of tablets and smartphones kept its chips in demand.Cutting-edge 28 nanometre technology has put the world�s biggest contract chip maker ahead of rivals as consumers shift to mobile devices like Apple Inc�s iPad and iPhone and away from personal computers.Analysts predict the company will continue to have robust topline growth over the longer term, although rising inventory levels at end-users like automakers and computer makers have stoked concerns about the current quarter.��� Texas Instruments, a key TSMCclient, this week forecast surprisingly weak revenue for the fourth quarter, saying its customers were nervous about demand amid a deteriorating global economy.Net profit for the world�s biggest contract chipmaker in the July-September period was T$49.3 billion ($1.68 billion), above the T$45.32 billion average estimate of 22 analysts polled by Thomson Reuters I/B/E/S.The figure compares with T$41.81 billion in the second quarter and T$30.40 billion for the same quarter a year ago.TSMC�s clients include Texas Instruments and Nvidia .Before the results announcement, TSMC shares closed down 0.7 percent, in line with a 0.7 percent decline in the broader market. ($1 = 29.2845 Taiwan dollars) (agencies)