TAIPEI: Taiwan Semiconductor Manufacturing Co., the sole supplier of iPhone processors, posted a slight decline in profit as it grapples with a stalling global smartphone market.Net income fell to NT$89.1 billion ($2.9 billion) in the three months ended September, the Hsinchu, Taiwan-based company said Thursday. That compares with the NT$88.75 billion average of estimates compiled by Bloomberg. Previously reported sales for the September quarter were NT$260.3 billion.While TSMC remains the exclusive maker of Apple Inc.’s iPhone processors, shoring up its biggest customer, it’s coming up against a global smartphone market that is seeing little growth. The stock has risen 3 percent this year. - Bloomberg

Source: thestar October 18, 2018 06:00 UTC