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SINGAPORE — Taiwan Semiconductor Manufacturing Co.’s profit for the traditionally robust July-September quarter fell 24.8% on the year despite the launch of the latest iPhone by its biggest customer Apple.
Net profit of the world’s largest contract chipmaker for the three months was 211 billion New Taiwan dollars ($6.6 billion), while revenue dropped 10.8% to NT$546.73 billion. Its gross margin was 54.3%, lower than the 60.4% it logged a year ago.
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