Smartphone slowdown tests new leadership at Taiwan’s chip champion

Taiwan Semiconductor Manufacturing Company (TSMC) chairman Mark Liu speaks during an interview in Hsinchu, Taiwan August 31, 2018. Picture taken August 31, 2018. REUTERS/Tyrone Siu

HSINCHU, Taiwan: In late August, the new chairman of chip-making titan Taiwan Semiconductor Manufacturing Co, Mark Liu, got the sort of news that would make any boss smile: his biggest competitor was throwing in the towel. 

Just under three months into Liu’s tenure, rival GlobalFoundries had announced that it would not compete in the latest generation of chip-making technology. It was a reminder of just how dominant TSMC has become in manufacturing chips for other companies, a business it all but invented.