TOKYO -- Dutch chipmaking equipment company ASML enjoyed solid earnings last year, even amid cooling chip demand, thanks to the advantage its top customer, Taiwan Semiconductor Manufacturing Co. has secured in the foundry market.
The company recorded an 8% rise in consolidated sales to 11.8 billion euros ($13.2 billion) for 2019, while net profit edged up to 2.6 billion euros. This came even amid a 10%-plus decline in global semiconductor demand that dragged down rivals' earnings across the board.
