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Huawei crackdown

TSMC plans to halt chip supplies to Huawei in 2 months

Chip titan says 5G demand will fuel growth despite US export ban and pandemic

TSMC has faced a number of challenges in recent months, including a crackdown on key customer Huawei.   © EPA/Jiji

TAIPEI -- Taiwan Semiconductor Manufacturing Co. on Thursday confirmed it has suspended processing new orders from key customer Huawei Technologies to comply with U.S. export regulations, but said it can still achieve more than 20% revenue growth this year thanks to strong demand for 5G smartphones, infrastructure and high-performance computing applications.

The world's biggest contract chipmaker also said it is ramping up capital spending for 2020, despite the ongoing coronavirus pandemic.

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