Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest chipmaker, reported a third-quarter profit of 211 billion New Taiwan dollars ($6.69 billion), marking its biggest drop in nearly five years. The decline in profit is attributed to weak demand for consumer electronics. However, TSMC exceeded analysts' expectations. The company's revenue slipped 10.83% compared to the previous year, while net income fell 24.87%. TSMC cited strong demand for its 3-nanometer and 5-nanometer technologies, but also noted ongoing inventory adjustments by customers. CEO C.C. Wei expects inventories to continue declining, but sees early signs of demand stabilization in the PC and smartphone market.

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