Consumer Electronics & OtherThin moat

TSMC (TSM) — moat facet

Televisions, set-top boxes and an unexplained remainder: the only line that sells less than it did in 2017, and a remnant of the old TSMC rather than part of its moat.

This line is the one going backwards, at least in part. Consumer electronics brought in NT$48.0 billion in 2025, 1.3% of revenue, against NT$63.1 billion in 2017, when it was 6.5%.123 It is the only one of TSMC's platforms that sold less in 2025 than eight years earlier, a fall of about 24% in a company whose revenue grew 3.9 times.4 The chart pairs it with "Others," which TSMC reports but does not describe; together they came to NT$127.6 billion in 2025, 3.3% of revenue.56

Digital consumer electronics revenue (NT$ billion)63.1201758.5201853.7201954.6202055.6202156.2202247.0202348.0202448.02025TSMC Forms 20-F FY2019, FY2022 and FY2025, net revenue by platform
The only platform that sells less than in 2017: down 24% while TSMC's revenue grew 3.9 times, and flat for three years.

The 20-F names the consumer products: smart digital televisions, set-top boxes, AI-embedded smart cameras and the wireless networking and power-management chips around them, for 8K and 4K video streaming.7 It says its 5-, 7/6-, 16/12-nanometre FinFET and 22-nanometre low-power technologies are "widely adopted by leading global makers of 8K/4K DTVs and STBs."8 These are mature markets with long product cycles and price-sensitive buyers. TSMC's stated plan for them is design-technology co-optimisation of their digital chips to cut power, which is to say it wants to sell them better processes rather than cheaper ones.9

The history is a slow fade. Under the old application scheme, consumer was 6% of revenue in the last quarter of 2015 and 9% for 2017 as a whole.1011 On the platform basis, consumer electronics fell 7% in 2018 and 8% in 2019, crept up about 1% to 2% a year through 2022, fell 16% in 2023 and has been flat since: NT$47.0 billion in 2023, NT$48.0 billion in 2024 and NT$48.0 billion in 2025.12131415 Management's own summary of 2025 was that the line "remained flat."16 In 2017 the consumer line was about a quarter the size of high-performance computing; in 2025 it was about a forty-sixth of it.17

Others is harder to read because TSMC gives no breakdown. It was NT$49.1 billion in 2017 and NT$79.6 billion in 2025, a rise of 62%, but with swings of its own: up 51% in 2022, down 6% in 2023 and 14% in 2024, then up 34% in 2025.18192021 Nothing in the filings explains those moves, and this page does not guess.

On a quarterly basis the pair is noisy. Consumer electronics fell 22% on the quarter in December 2025, rose 28% in March 2026 and 5% in June; Others rose 14%, 17% and 5% over the same quarters.22232425 Swings of that size on a line that is 1% of revenue tell a reader very little, and they are not new: consumer electronics rose 33% on the quarter in March 2024, fell 19% in September 2024 and rose 30% in June 2025.262728 A line that moves like that from one quarter to the next is being driven by a handful of product launches, not by a trend.

Profit is no better disclosed for this line than for the others.29 On inference the consumer line earns what the mature nodes earn, and management said in July that outside power management and image sensors, demand for commodity mature nodes was not strong.30 The line also sits where TSMC competes most directly on price, with the foundries described under Competitors in The Trailing Edge TSMC Declines to Fight For. A television maker choosing a 16- or 28-nanometre supplier has alternatives in a way that an AI-chip designer at 3 nanometres does not.

Why keep a line like this at all? The likely answer, which is inference, is that the capacity already exists and costs little to run, and that some of these customers move up the node table: the filing's list of consumer technologies now starts at 5 nanometres. A consumer chip on a leading-edge process is still a small order, but it is a better one.

This line is a remnant of the company TSMC used to be, not a part of its moat. The figure that settles its direction is the consumer line alone, at NT$48.0 billion three years running. A rise above that level would say AI features in televisions and cameras are pulling these customers onto newer processes; a slide below NT$45 billion would say the market is simply leaving.

Moat trajectory: Narrowing

Consumer electronics has been flat at about NT$48 billion for three years and is 24% below 2017, in a company that grew 3.9 times.

The number that tests this moat
Reported
Digital consumer electronics revenue, full year
NT$48.0bn in 2025, NT$48.0bn in 2024 and NT$47.0bn in 2023

A rise would say AI features in televisions and cameras are moving these customers to newer processes; a slide below NT$45bn would say the market is leaving.

Source: TSMC Form 20-F FY2025 ↗
References
  1. ReportedConsumer electronics brought in NT$48.0 billion in 2025, 1.3% of revenue, against NT$63.1 billion in 2017, when it was 6.5%.
    TSMC Form 20-F FY2025 - net revenue by platform 2023-2025 (NT$ millions): HPC 934,769 / 1,476,891 / 2,192,931; smartphone 814,914 / 1,005,130 / 1,110,816; IoT 161,917 / 165,516 / 191,047; automotive 133,654 / 139,323 / 186,667; digital consumer electronics 47,000 / 47,961 / 47,997; others 69,482 / 59,487 / 79,596; total 2,161,736 / 2,894,308 / 3,809,054; increases from HPC of NT$716,040 million (48%) and NT$542,122 million (58%) and from smartphone of NT$105,686 million (11%) and NT$190,216 million (23%); platform descriptions; only one operating segment, the foundry segment; gross margin 54.4%, 56.1% and 59.9%; 7-nanometer and below 74% of wafer revenue in 2025, up from 69%; ESMC in Dresden (Fab 24) and up to EUR5 billion of German state aid agreed December 2024 — FY2023-FY2025 · publ. April 2026 · source ↗
  2. ReportedConsumer electronics brought in NT$48.0 billion in 2025, 1.3% of revenue, against NT$63.1 billion in 2017, when it was 6.5%.
    TSMC Form 20-F FY2019 - net revenue by platform 2017-2019 on the platform basis adopted in 2019 (NT$ millions): smartphone 504,175 / 466,452 / 523,613; HPC 265,394 / 341,910 / 315,822; IoT 51,776 / 65,092 / 86,343; automotive 43,871 / 51,710 / 47,914; digital consumer electronics 63,097 / 58,470 / 53,733; others 49,134 / 47,840 / 42,560; total 977,447 / 1,031,474 / 1,069,985; 2019 increases from smartphone NT$57,161 million (12%) and IoT NT$21,251 million (33%), offset by HPC down NT$26,088 million (8%); 2018 increases from HPC NT$76,516 million (29%) and IoT NT$13,316 million (26%), offset by smartphone down NT$37,723 million (7%) — FY2017-FY2019 · publ. April 2020 · source ↗
  3. Moat Explorer calcConsumer electronics brought in NT$48.0 billion in 2025, 1.3% of revenue, against NT$63.1 billion in 2017, when it was 6.5%.
    Moat Explorer calculation from TSMC's Forms 20-F FY2019, FY2022 and FY2025 and quarterly management reports: platform shares of revenue (HPC 2,192,931/3,809,054 = 57.6% in 2025 and 265,394/977,447 = 27.2% in 2017; smartphone 29.2% in 2025 and 51.6% in 2017; IoT 5.0% and 5.3%; automotive 4.9% and 4.5%; consumer electronics 1.3% and 6.5%; the four non-HPC lines 72.8% in 2017 and 34% in 2Q26); 2025 revenue increase NT$914,746 million, of which HPC 78.3%, and 2024 NT$732,572 million, of which 74.0%; 2017-2025 compound annual growth HPC 30.2%, automotive 19.8%, IoT 17.7%, smartphone 10.4%, consumer electronics -3.4%; year-on-year changes HPC +28.8%, -7.6%, +39.3%, +33.6%, +58.6%, +0.3%, +58.0%, +48.5% (2018-2025), smartphone 2023 -8.3% and 2020 +23.2%, IoT 2023 -17.4% and 2024 +2.2%, automotive 2022 +73.5%, 2023 +14.8%, 2024 +4.2%, 2025 +34.0%, company revenue 2023 -4.5%; IoT 2025 of NT$191.0 billion 2.6% below 2022's NT$196.1 billion; consumer electronics 2025 23.9% below 2017 while company revenue grew 3.9 times, and 1/46 of HPC in 2025 against 24% in 2017; consumer electronics and others NT$127.6 billion (3.3%); 2Q26 HPC revenue about 66% x NT$1,270.38 billion against 60% x NT$933.79 billion, about half as much again, on rounded platform shares — 2017 to 2Q26 · publ. 2026-09-23 · source ↗
  4. Moat Explorer calcIt is the only one of TSMC's platforms that sold less in 2025 than eight years earlier, a fall of about 24% in a company whose revenue grew 3.9 times.
    Moat Explorer calculation from TSMC's Forms 20-F FY2019, FY2022 and FY2025 and quarterly management reports: platform shares of revenue (HPC 2,192,931/3,809,054 = 57.6% in 2025 and 265,394/977,447 = 27.2% in 2017; smartphone 29.2% in 2025 and 51.6% in 2017; IoT 5.0% and 5.3%; automotive 4.9% and 4.5%; consumer electronics 1.3% and 6.5%; the four non-HPC lines 72.8% in 2017 and 34% in 2Q26); 2025 revenue increase NT$914,746 million, of which HPC 78.3%, and 2024 NT$732,572 million, of which 74.0%; 2017-2025 compound annual growth HPC 30.2%, automotive 19.8%, IoT 17.7%, smartphone 10.4%, consumer electronics -3.4%; year-on-year changes HPC +28.8%, -7.6%, +39.3%, +33.6%, +58.6%, +0.3%, +58.0%, +48.5% (2018-2025), smartphone 2023 -8.3% and 2020 +23.2%, IoT 2023 -17.4% and 2024 +2.2%, automotive 2022 +73.5%, 2023 +14.8%, 2024 +4.2%, 2025 +34.0%, company revenue 2023 -4.5%; IoT 2025 of NT$191.0 billion 2.6% below 2022's NT$196.1 billion; consumer electronics 2025 23.9% below 2017 while company revenue grew 3.9 times, and 1/46 of HPC in 2025 against 24% in 2017; consumer electronics and others NT$127.6 billion (3.3%); 2Q26 HPC revenue about 66% x NT$1,270.38 billion against 60% x NT$933.79 billion, about half as much again, on rounded platform shares — 2017 to 2Q26 · publ. 2026-09-23 · source ↗
  5. ReportedThe chart pairs it with "Others," which TSMC reports but does not describe; together they came to NT$127.6 billion in 2025, 3.3% of revenue.
    TSMC Form 20-F FY2025 - net revenue by platform 2023-2025 (NT$ millions): HPC 934,769 / 1,476,891 / 2,192,931; smartphone 814,914 / 1,005,130 / 1,110,816; IoT 161,917 / 165,516 / 191,047; automotive 133,654 / 139,323 / 186,667; digital consumer electronics 47,000 / 47,961 / 47,997; others 69,482 / 59,487 / 79,596; total 2,161,736 / 2,894,308 / 3,809,054; increases from HPC of NT$716,040 million (48%) and NT$542,122 million (58%) and from smartphone of NT$105,686 million (11%) and NT$190,216 million (23%); platform descriptions; only one operating segment, the foundry segment; gross margin 54.4%, 56.1% and 59.9%; 7-nanometer and below 74% of wafer revenue in 2025, up from 69%; ESMC in Dresden (Fab 24) and up to EUR5 billion of German state aid agreed December 2024 — FY2023-FY2025 · publ. April 2026 · source ↗
  6. Moat Explorer calcThe chart pairs it with "Others," which TSMC reports but does not describe; together they came to NT$127.6 billion in 2025, 3.3% of revenue.
    Moat Explorer calculation from TSMC's Forms 20-F FY2019, FY2022 and FY2025 and quarterly management reports: platform shares of revenue (HPC 2,192,931/3,809,054 = 57.6% in 2025 and 265,394/977,447 = 27.2% in 2017; smartphone 29.2% in 2025 and 51.6% in 2017; IoT 5.0% and 5.3%; automotive 4.9% and 4.5%; consumer electronics 1.3% and 6.5%; the four non-HPC lines 72.8% in 2017 and 34% in 2Q26); 2025 revenue increase NT$914,746 million, of which HPC 78.3%, and 2024 NT$732,572 million, of which 74.0%; 2017-2025 compound annual growth HPC 30.2%, automotive 19.8%, IoT 17.7%, smartphone 10.4%, consumer electronics -3.4%; year-on-year changes HPC +28.8%, -7.6%, +39.3%, +33.6%, +58.6%, +0.3%, +58.0%, +48.5% (2018-2025), smartphone 2023 -8.3% and 2020 +23.2%, IoT 2023 -17.4% and 2024 +2.2%, automotive 2022 +73.5%, 2023 +14.8%, 2024 +4.2%, 2025 +34.0%, company revenue 2023 -4.5%; IoT 2025 of NT$191.0 billion 2.6% below 2022's NT$196.1 billion; consumer electronics 2025 23.9% below 2017 while company revenue grew 3.9 times, and 1/46 of HPC in 2025 against 24% in 2017; consumer electronics and others NT$127.6 billion (3.3%); 2Q26 HPC revenue about 66% x NT$1,270.38 billion against 60% x NT$933.79 billion, about half as much again, on rounded platform shares — 2017 to 2Q26 · publ. 2026-09-23 · source ↗
  7. ReportedThe 20-F names the consumer products: smart digital televisions, set-top boxes, AI-embedded smart cameras and the wireless networking and power-management chips around them, for 8K and 4K video streaming.
    TSMC Form 20-F FY2025 - net revenue by platform 2023-2025 (NT$ millions): HPC 934,769 / 1,476,891 / 2,192,931; smartphone 814,914 / 1,005,130 / 1,110,816; IoT 161,917 / 165,516 / 191,047; automotive 133,654 / 139,323 / 186,667; digital consumer electronics 47,000 / 47,961 / 47,997; others 69,482 / 59,487 / 79,596; total 2,161,736 / 2,894,308 / 3,809,054; increases from HPC of NT$716,040 million (48%) and NT$542,122 million (58%) and from smartphone of NT$105,686 million (11%) and NT$190,216 million (23%); platform descriptions; only one operating segment, the foundry segment; gross margin 54.4%, 56.1% and 59.9%; 7-nanometer and below 74% of wafer revenue in 2025, up from 69%; ESMC in Dresden (Fab 24) and up to EUR5 billion of German state aid agreed December 2024 — FY2023-FY2025 · publ. April 2026 · source ↗
  8. ReportedIt says its 5-, 7/6-, 16/12-nanometre FinFET and 22-nanometre low-power technologies are "widely adopted by leading global makers of 8K/4K DTVs and STBs."
    TSMC Form 20-F FY2025 - net revenue by platform 2023-2025 (NT$ millions): HPC 934,769 / 1,476,891 / 2,192,931; smartphone 814,914 / 1,005,130 / 1,110,816; IoT 161,917 / 165,516 / 191,047; automotive 133,654 / 139,323 / 186,667; digital consumer electronics 47,000 / 47,961 / 47,997; others 69,482 / 59,487 / 79,596; total 2,161,736 / 2,894,308 / 3,809,054; increases from HPC of NT$716,040 million (48%) and NT$542,122 million (58%) and from smartphone of NT$105,686 million (11%) and NT$190,216 million (23%); platform descriptions; only one operating segment, the foundry segment; gross margin 54.4%, 56.1% and 59.9%; 7-nanometer and below 74% of wafer revenue in 2025, up from 69%; ESMC in Dresden (Fab 24) and up to EUR5 billion of German state aid agreed December 2024 — FY2023-FY2025 · publ. April 2026 · source ↗
  9. ReportedTSMC's stated plan for them is design-technology co-optimisation of their digital chips to cut power, which is to say it wants to sell them better processes rather than cheaper ones.
    TSMC Form 20-F FY2025 - net revenue by platform 2023-2025 (NT$ millions): HPC 934,769 / 1,476,891 / 2,192,931; smartphone 814,914 / 1,005,130 / 1,110,816; IoT 161,917 / 165,516 / 191,047; automotive 133,654 / 139,323 / 186,667; digital consumer electronics 47,000 / 47,961 / 47,997; others 69,482 / 59,487 / 79,596; total 2,161,736 / 2,894,308 / 3,809,054; increases from HPC of NT$716,040 million (48%) and NT$542,122 million (58%) and from smartphone of NT$105,686 million (11%) and NT$190,216 million (23%); platform descriptions; only one operating segment, the foundry segment; gross margin 54.4%, 56.1% and 59.9%; 7-nanometer and below 74% of wafer revenue in 2025, up from 69%; ESMC in Dresden (Fab 24) and up to EUR5 billion of German state aid agreed December 2024 — FY2023-FY2025 · publ. April 2026 · source ↗
  10. ReportedUnder the old application scheme, consumer was 6% of revenue in the last quarter of 2015 and 9% for 2017 as a whole.
    TSMC 4Q15 Quarterly Management Report - revenue by application in 4Q15: computer 9%, communication 62%, consumer 6%, industrial/standard 23% — 4Q15 · publ. January 14, 2016 · source ↗
  11. ReportedUnder the old application scheme, consumer was 6% of revenue in the last quarter of 2015 and 9% for 2017 as a whole.
    TSMC 4Q18 Quarterly Management Report - net revenue by application for full years 2018 and 2017: computer 14% and 9%, communication 56% and 59%, consumer 7% and 9%, industrial/standard 23% and 23% — Full years 2017 and 2018 · publ. January 17, 2019 · source ↗
  12. ReportedOn the platform basis, consumer electronics fell 7% in 2018 and 8% in 2019, crept up about 1% to 2% a year through 2022, fell 16% in 2023 and has been flat since: NT$47.0 billion in 2023, NT$48.0 billion in 2024 and NT$48.0 billion in 2025.
    TSMC Form 20-F FY2019 - net revenue by platform 2017-2019 on the platform basis adopted in 2019 (NT$ millions): smartphone 504,175 / 466,452 / 523,613; HPC 265,394 / 341,910 / 315,822; IoT 51,776 / 65,092 / 86,343; automotive 43,871 / 51,710 / 47,914; digital consumer electronics 63,097 / 58,470 / 53,733; others 49,134 / 47,840 / 42,560; total 977,447 / 1,031,474 / 1,069,985; 2019 increases from smartphone NT$57,161 million (12%) and IoT NT$21,251 million (33%), offset by HPC down NT$26,088 million (8%); 2018 increases from HPC NT$76,516 million (29%) and IoT NT$13,316 million (26%), offset by smartphone down NT$37,723 million (7%) — FY2017-FY2019 · publ. April 2020 · source ↗
  13. ReportedOn the platform basis, consumer electronics fell 7% in 2018 and 8% in 2019, crept up about 1% to 2% a year through 2022, fell 16% in 2023 and has been flat since: NT$47.0 billion in 2023, NT$48.0 billion in 2024 and NT$48.0 billion in 2025.
    TSMC Form 20-F FY2022 - net revenue by platform 2020-2022 (NT$ millions): HPC 439,810 / 587,780 / 932,384; smartphone 645,304 / 695,091 / 888,879; IoT 110,355 / 133,006 / 196,115; automotive 44,367 / 67,077 / 116,381; digital consumer electronics 54,556 / 55,577 / 56,159; others 44,863 / 48,884 / 73,973; total 1,339,255 / 1,587,415 / 2,263,891; 2022 increases from HPC NT$344,604 million (59%), smartphone NT$193,788 million (28%) and IoT NT$63,109 million (47%); 2021 increases from HPC NT$147,970 million (34%), smartphone NT$49,787 million (8%) and automotive NT$22,710 million (51%) — FY2020-FY2022 · publ. April 2023 · source ↗
  14. ReportedOn the platform basis, consumer electronics fell 7% in 2018 and 8% in 2019, crept up about 1% to 2% a year through 2022, fell 16% in 2023 and has been flat since: NT$47.0 billion in 2023, NT$48.0 billion in 2024 and NT$48.0 billion in 2025.
    TSMC Form 20-F FY2025 - net revenue by platform 2023-2025 (NT$ millions): HPC 934,769 / 1,476,891 / 2,192,931; smartphone 814,914 / 1,005,130 / 1,110,816; IoT 161,917 / 165,516 / 191,047; automotive 133,654 / 139,323 / 186,667; digital consumer electronics 47,000 / 47,961 / 47,997; others 69,482 / 59,487 / 79,596; total 2,161,736 / 2,894,308 / 3,809,054; increases from HPC of NT$716,040 million (48%) and NT$542,122 million (58%) and from smartphone of NT$105,686 million (11%) and NT$190,216 million (23%); platform descriptions; only one operating segment, the foundry segment; gross margin 54.4%, 56.1% and 59.9%; 7-nanometer and below 74% of wafer revenue in 2025, up from 69%; ESMC in Dresden (Fab 24) and up to EUR5 billion of German state aid agreed December 2024 — FY2023-FY2025 · publ. April 2026 · source ↗
  15. Moat Explorer calcOn the platform basis, consumer electronics fell 7% in 2018 and 8% in 2019, crept up about 1% to 2% a year through 2022, fell 16% in 2023 and has been flat since: NT$47.0 billion in 2023, NT$48.0 billion in 2024 and NT$48.0 billion in 2025.
    Moat Explorer calculation from TSMC's Forms 20-F FY2019, FY2022 and FY2025 and quarterly management reports: platform shares of revenue (HPC 2,192,931/3,809,054 = 57.6% in 2025 and 265,394/977,447 = 27.2% in 2017; smartphone 29.2% in 2025 and 51.6% in 2017; IoT 5.0% and 5.3%; automotive 4.9% and 4.5%; consumer electronics 1.3% and 6.5%; the four non-HPC lines 72.8% in 2017 and 34% in 2Q26); 2025 revenue increase NT$914,746 million, of which HPC 78.3%, and 2024 NT$732,572 million, of which 74.0%; 2017-2025 compound annual growth HPC 30.2%, automotive 19.8%, IoT 17.7%, smartphone 10.4%, consumer electronics -3.4%; year-on-year changes HPC +28.8%, -7.6%, +39.3%, +33.6%, +58.6%, +0.3%, +58.0%, +48.5% (2018-2025), smartphone 2023 -8.3% and 2020 +23.2%, IoT 2023 -17.4% and 2024 +2.2%, automotive 2022 +73.5%, 2023 +14.8%, 2024 +4.2%, 2025 +34.0%, company revenue 2023 -4.5%; IoT 2025 of NT$191.0 billion 2.6% below 2022's NT$196.1 billion; consumer electronics 2025 23.9% below 2017 while company revenue grew 3.9 times, and 1/46 of HPC in 2025 against 24% in 2017; consumer electronics and others NT$127.6 billion (3.3%); 2Q26 HPC revenue about 66% x NT$1,270.38 billion against 60% x NT$933.79 billion, about half as much again, on rounded platform shares — 2017 to 2Q26 · publ. 2026-09-23 · source ↗
  16. ReportedManagement's own summary of 2025 was that the line "remained flat."
    TSMC 4Q25 earnings call transcript - in 4Q25 DCE decreased 22%; for 2025 HPC increased 48% and smartphone, IoT and automotive 11%, 15% and 34%, while DCE remained flat; revenue from AI accelerators accounted for high-teens percent of total revenue in 2025, with AI accelerator revenue growth forecast to approach a mid-to-high-fifties per cent CAGR for 2024-2029; N2 entered high-volume manufacturing in 4Q25 with strong demand from smartphone and HPC/AI; TSMC supplies most high-end smartphones, which are less sensitive to memory prices — 4Q25 call · publ. January 15, 2026 · source ↗
  17. Moat Explorer calcIn 2017 the consumer line was about a quarter the size of high-performance computing; in 2025 it was about a forty-sixth of it.
    Moat Explorer calculation from TSMC's Forms 20-F FY2019, FY2022 and FY2025 and quarterly management reports: platform shares of revenue (HPC 2,192,931/3,809,054 = 57.6% in 2025 and 265,394/977,447 = 27.2% in 2017; smartphone 29.2% in 2025 and 51.6% in 2017; IoT 5.0% and 5.3%; automotive 4.9% and 4.5%; consumer electronics 1.3% and 6.5%; the four non-HPC lines 72.8% in 2017 and 34% in 2Q26); 2025 revenue increase NT$914,746 million, of which HPC 78.3%, and 2024 NT$732,572 million, of which 74.0%; 2017-2025 compound annual growth HPC 30.2%, automotive 19.8%, IoT 17.7%, smartphone 10.4%, consumer electronics -3.4%; year-on-year changes HPC +28.8%, -7.6%, +39.3%, +33.6%, +58.6%, +0.3%, +58.0%, +48.5% (2018-2025), smartphone 2023 -8.3% and 2020 +23.2%, IoT 2023 -17.4% and 2024 +2.2%, automotive 2022 +73.5%, 2023 +14.8%, 2024 +4.2%, 2025 +34.0%, company revenue 2023 -4.5%; IoT 2025 of NT$191.0 billion 2.6% below 2022's NT$196.1 billion; consumer electronics 2025 23.9% below 2017 while company revenue grew 3.9 times, and 1/46 of HPC in 2025 against 24% in 2017; consumer electronics and others NT$127.6 billion (3.3%); 2Q26 HPC revenue about 66% x NT$1,270.38 billion against 60% x NT$933.79 billion, about half as much again, on rounded platform shares — 2017 to 2Q26 · publ. 2026-09-23 · source ↗
  18. ReportedIt was NT$49.1 billion in 2017 and NT$79.6 billion in 2025, a rise of 62%, but with swings of its own: up 51% in 2022, down 6% in 2023 and 14% in 2024, then up 34% in 2025.
    TSMC Form 20-F FY2019 - net revenue by platform 2017-2019 on the platform basis adopted in 2019 (NT$ millions): smartphone 504,175 / 466,452 / 523,613; HPC 265,394 / 341,910 / 315,822; IoT 51,776 / 65,092 / 86,343; automotive 43,871 / 51,710 / 47,914; digital consumer electronics 63,097 / 58,470 / 53,733; others 49,134 / 47,840 / 42,560; total 977,447 / 1,031,474 / 1,069,985; 2019 increases from smartphone NT$57,161 million (12%) and IoT NT$21,251 million (33%), offset by HPC down NT$26,088 million (8%); 2018 increases from HPC NT$76,516 million (29%) and IoT NT$13,316 million (26%), offset by smartphone down NT$37,723 million (7%) — FY2017-FY2019 · publ. April 2020 · source ↗
  19. ReportedIt was NT$49.1 billion in 2017 and NT$79.6 billion in 2025, a rise of 62%, but with swings of its own: up 51% in 2022, down 6% in 2023 and 14% in 2024, then up 34% in 2025.
    TSMC Form 20-F FY2022 - net revenue by platform 2020-2022 (NT$ millions): HPC 439,810 / 587,780 / 932,384; smartphone 645,304 / 695,091 / 888,879; IoT 110,355 / 133,006 / 196,115; automotive 44,367 / 67,077 / 116,381; digital consumer electronics 54,556 / 55,577 / 56,159; others 44,863 / 48,884 / 73,973; total 1,339,255 / 1,587,415 / 2,263,891; 2022 increases from HPC NT$344,604 million (59%), smartphone NT$193,788 million (28%) and IoT NT$63,109 million (47%); 2021 increases from HPC NT$147,970 million (34%), smartphone NT$49,787 million (8%) and automotive NT$22,710 million (51%) — FY2020-FY2022 · publ. April 2023 · source ↗
  20. ReportedIt was NT$49.1 billion in 2017 and NT$79.6 billion in 2025, a rise of 62%, but with swings of its own: up 51% in 2022, down 6% in 2023 and 14% in 2024, then up 34% in 2025.
    TSMC Form 20-F FY2025 - net revenue by platform 2023-2025 (NT$ millions): HPC 934,769 / 1,476,891 / 2,192,931; smartphone 814,914 / 1,005,130 / 1,110,816; IoT 161,917 / 165,516 / 191,047; automotive 133,654 / 139,323 / 186,667; digital consumer electronics 47,000 / 47,961 / 47,997; others 69,482 / 59,487 / 79,596; total 2,161,736 / 2,894,308 / 3,809,054; increases from HPC of NT$716,040 million (48%) and NT$542,122 million (58%) and from smartphone of NT$105,686 million (11%) and NT$190,216 million (23%); platform descriptions; only one operating segment, the foundry segment; gross margin 54.4%, 56.1% and 59.9%; 7-nanometer and below 74% of wafer revenue in 2025, up from 69%; ESMC in Dresden (Fab 24) and up to EUR5 billion of German state aid agreed December 2024 — FY2023-FY2025 · publ. April 2026 · source ↗
  21. Moat Explorer calcIt was NT$49.1 billion in 2017 and NT$79.6 billion in 2025, a rise of 62%, but with swings of its own: up 51% in 2022, down 6% in 2023 and 14% in 2024, then up 34% in 2025.
    Moat Explorer calculation from TSMC's Forms 20-F FY2019, FY2022 and FY2025 and quarterly management reports: platform shares of revenue (HPC 2,192,931/3,809,054 = 57.6% in 2025 and 265,394/977,447 = 27.2% in 2017; smartphone 29.2% in 2025 and 51.6% in 2017; IoT 5.0% and 5.3%; automotive 4.9% and 4.5%; consumer electronics 1.3% and 6.5%; the four non-HPC lines 72.8% in 2017 and 34% in 2Q26); 2025 revenue increase NT$914,746 million, of which HPC 78.3%, and 2024 NT$732,572 million, of which 74.0%; 2017-2025 compound annual growth HPC 30.2%, automotive 19.8%, IoT 17.7%, smartphone 10.4%, consumer electronics -3.4%; year-on-year changes HPC +28.8%, -7.6%, +39.3%, +33.6%, +58.6%, +0.3%, +58.0%, +48.5% (2018-2025), smartphone 2023 -8.3% and 2020 +23.2%, IoT 2023 -17.4% and 2024 +2.2%, automotive 2022 +73.5%, 2023 +14.8%, 2024 +4.2%, 2025 +34.0%, company revenue 2023 -4.5%; IoT 2025 of NT$191.0 billion 2.6% below 2022's NT$196.1 billion; consumer electronics 2025 23.9% below 2017 while company revenue grew 3.9 times, and 1/46 of HPC in 2025 against 24% in 2017; consumer electronics and others NT$127.6 billion (3.3%); 2Q26 HPC revenue about 66% x NT$1,270.38 billion against 60% x NT$933.79 billion, about half as much again, on rounded platform shares — 2017 to 2Q26 · publ. 2026-09-23 · source ↗
  22. ReportedConsumer electronics fell 22% on the quarter in December 2025, rose 28% in March 2026 and 5% in June; Others rose 14%, 17% and 5% over the same quarters.
    TSMC 4Q25 earnings call transcript - in 4Q25 DCE decreased 22%; for 2025 HPC increased 48% and smartphone, IoT and automotive 11%, 15% and 34%, while DCE remained flat; revenue from AI accelerators accounted for high-teens percent of total revenue in 2025, with AI accelerator revenue growth forecast to approach a mid-to-high-fifties per cent CAGR for 2024-2029; N2 entered high-volume manufacturing in 4Q25 with strong demand from smartphone and HPC/AI; TSMC supplies most high-end smartphones, which are less sensitive to memory prices — 4Q25 call · publ. January 15, 2026 · source ↗
  23. ReportedConsumer electronics fell 22% on the quarter in December 2025, rose 28% in March 2026 and 5% in June; Others rose 14%, 17% and 5% over the same quarters.
    TSMC 4Q25 Quarterly Management Report - sequentially, revenue from HPC, smartphone, IoT and others increased 4%, 11%, 3% and 14%; full-year 2025 net revenue by platform HPC 58%, smartphone 29%, IoT 5%, automotive 5%, DCE 1%, others 2% — 4Q25 and full year 2025 · publ. January 15, 2026 · source ↗
  24. ReportedConsumer electronics fell 22% on the quarter in December 2025, rose 28% in March 2026 and 5% in June; Others rose 14%, 17% and 5% over the same quarters.
    TSMC 1Q26 Quarterly Management Report - net revenue NT$1,134.10 billion; sequentially, revenue from HPC, IoT, DCE and others increased 20%, 12%, 28% and 17%, while smartphone and automotive decreased 11% and 7%; HPC 61% and smartphone 26% of net revenue — 1Q26 · publ. April 16, 2026 · source ↗
  25. ReportedConsumer electronics fell 22% on the quarter in December 2025, rose 28% in March 2026 and 5% in June; Others rose 14%, 17% and 5% over the same quarters.
    TSMC 2Q26 Quarterly Management Report - net revenue NT$1,270.38 billion against NT$933.79 billion in 2Q25; gross margin 67.7%; HPC 66%, smartphone 22%, IoT 5%, automotive 4%, DCE 1%, others 2% of net revenue (2Q25: HPC 60%, smartphone 27%); sequentially, revenue from HPC, IoT, automotive, DCE and others increased 20%, 4%, 15%, 5% and 5%, while smartphone decreased 4%; North America 78% of net revenue; 7nm and below 77% of wafer revenue — 2Q26 · publ. July 16, 2026 · source ↗
  26. ReportedSwings of that size on a line that is 1% of revenue tell a reader very little, and they are not new: consumer electronics rose 33% on the quarter in March 2024, fell 19% in September 2024 and rose 30% in June 2025.
    TSMC 1Q24 Quarterly Management Report - sequentially, revenue from HPC, IoT and DCE increased 3%, 5% and 33%, while smartphone and others decreased 16% and 8% — 1Q24 · publ. April 18, 2024 · source ↗
  27. ReportedSwings of that size on a line that is 1% of revenue tell a reader very little, and they are not new: consumer electronics rose 33% on the quarter in March 2024, fell 19% in September 2024 and rose 30% in June 2025.
    TSMC 3Q24 Quarterly Management Report - sequentially, revenue from HPC, smartphone, IoT, automotive and others increased 11%, 16%, 35%, 6% and 8%, while DCE decreased 19% — 3Q24 · publ. October 17, 2024 · source ↗
  28. ReportedSwings of that size on a line that is 1% of revenue tell a reader very little, and they are not new: consumer electronics rose 33% on the quarter in March 2024, fell 19% in September 2024 and rose 30% in June 2025.
    TSMC 2Q25 Quarterly Management Report - sequentially, revenue from HPC, smartphone, IoT, DCE and others increased 14%, 7%, 14%, 30% and 6% — 2Q25 · publ. July 17, 2025 · source ↗
  29. ReportedProfit is no better disclosed for this line than for the others.
    TSMC Form 20-F FY2025 - net revenue by platform 2023-2025 (NT$ millions): HPC 934,769 / 1,476,891 / 2,192,931; smartphone 814,914 / 1,005,130 / 1,110,816; IoT 161,917 / 165,516 / 191,047; automotive 133,654 / 139,323 / 186,667; digital consumer electronics 47,000 / 47,961 / 47,997; others 69,482 / 59,487 / 79,596; total 2,161,736 / 2,894,308 / 3,809,054; increases from HPC of NT$716,040 million (48%) and NT$542,122 million (58%) and from smartphone of NT$105,686 million (11%) and NT$190,216 million (23%); platform descriptions; only one operating segment, the foundry segment; gross margin 54.4%, 56.1% and 59.9%; 7-nanometer and below 74% of wafer revenue in 2025, up from 69%; ESMC in Dresden (Fab 24) and up to EUR5 billion of German state aid agreed December 2024 — FY2023-FY2025 · publ. April 2026 · source ↗
  30. ReportedOn inference the consumer line earns what the mature nodes earn, and management said in July that outside power management and image sensors, demand for commodity mature nodes was not strong.
    TSMC 2Q26 earnings call transcript - third-quarter gross margin guided down 1.7 points to 66% at the midpoint as the 2-nanometre ramp dilutes by about 3 to 4 points; full-year 2026 revenue growth slightly above 40% in US dollars; 2026 capital budget raised to US$60-64 billion; agentic AI bringing back the CPU in AI data centres, with x86, Arm and RISC-V designers almost all TSMC customers; mature-node capacity increased at JASM in Japan for CMOS image sensors and ESMC in Germany for automotive and industrial, with commodity mature-node demand outside power management and image sensors not strong — 2Q26 call · publ. July 16, 2026 · source ↗
Sources
Generated September 23, 2026