TSMC reports big Q4 net profit jump

TSMC held its quarterly investor conference today, and the news was all good. The world's biggest contract chip maker reported a huge rise in fourth quarter profit because of the boom in mobile devices, and it expects sales growth of 15-20 percent in 2013. TSMC Chairman Morris Chang had reason to be happy. Profits in the fourth quarter of 2012 not only rose 32 percent, but the company set highs for consolidated sales and income for the year as whole. And Chang was optimistic about this year. Morris ChangTSMC ChairmanWe estimate that global economic growth will be 2.6 percent in 2013, which is higher than the growth rate last year.Chang also predicted that Taiwan's chip makers would see sales grow 7 percent this year. The company's chief financial officer Lora Ho said strong demand for chip