The economy of Taiwan is a highly-diversified advanced economy with a strong manufacturing base. Several prominent companies based in Taiwan are global innovators in their respective industries, from semiconductor manufacturing to telecommunications.
Below are five of the largest companies in Taiwan ranked by 12-month trailing revenue. Also listed are three additional companies that rank among the largest companies in Taiwan by revenue and market capitalization, but were excluded from the list due to their limited trading presence in U.S. markets. All figures are as of market close on August 2, 2022, with data provided by YCharts, unless otherwise indicated.
Taiwan Semiconductor Manufacturing Co. (TSM)
Taiwan Semiconductor Manufacturing Co. (TSMC) is the world’s most valuable semiconductor company and one of the largest independent pure-play semiconductor foundries globally. Pure-play foundries only fabricate integrated circuits and do not have any in-house design capabilities. Many semiconductor companies outsource the manufacturing of their components to TSMC.
ASE Technology Holding Co. (ASX)
ASE Technology Holding Co. is a semiconductor assembly company headquartered in Kaohsiung, Taiwan. The company’s primary operations include semiconductor assembly, testing, and packaging. ASE is a pioneer of the heterogeneous integration (HI) process, which involves integrating separately manufactured components into a high-level assembly. This process is utilized for improving connectivity and generating higher bandwidth and performance in electronic applications.
United Microelectronics Corp. (UMC)
United Microelectronics Corp. is among the oldest Taiwanese semiconductor companies, founded in 1980 as a result of a spinoff of the government-sponsored Industrial Technology Research Institute. UMC has a global presence, with offices located throughout the U.S., Europe, China, Japan, Korea, and Singapore. It offers a variety of advanced manufacturing processes, serving the global electronics industry.
Chunghwa Telecom Co. (CHT)
Chunghwa Telecom Co. is Taiwan’s largest telecommunications company. The company was founded in 1996 as part of a privatization effort by the Taiwanese government, with the government’s stake in the firm declining below 50% in 2005. Chunghwa has been publicly traded on the Taiwan Stock Exchange since 2000, and on the NYSE since 2003. The company is one of the primary providers of broadband and other telecommunications services throughout Taiwan.
Himax Technologies Inc. (HIMX)
Himax Technologies Inc. is a leading semiconductor manufacturer, supplier, and solutions provider. The company relies on the fabless manufacturing process, which involves outsourcing fabrication to a semiconductor foundry. Many of the company’s products are integrated into laptops, tablets, television sets, PC cameras, automobiles, and home appliances.
In addition to the firms listed above, there are a few noteworthy companies that are ranked among the largest in Taiwan by revenue and market capitalization, but have a limited trading presence in U.S. markets. These firms, ranking among the largest in Taiwan by revenue, earnings, and market cap, are listed below.
Foxconn / Hon Hai Precision Industry Co.
Established in 1974, Hon Hai Precision Industry Co., also known as Foxconn, is the world’s largest electronics manufacturer, with annual revenue approaching $200 billion as of 2021. The firm is a global leader in both hardware and software development, manufacturing popular products including smartphones and video game consoles. Foxconn is a notable player in the market for AI, semiconductors, and new-generation technologies.
MediaTek Inc.
MediaTek is the world’s fourth-largest fabless semiconductor manufacturer. MediaTek manufactures semiconductors for a wide range of applications, including smartphones, domestic appliances, and entertainment systems. MediaTek’s semiconductors power over two billion devices globally, encompassing 20% of the world’s households and one in three cell phones worldwide. In 2020, MediaTek overtook U.S. rival Qualcomm as the largest vendor of smartphone chipsets worldwide, in terms of the number of chipsets supplied globally.
Formosa Petrochemical Co.
Formosa Petrochemical Co. is one of Taiwan’s largest energy companies, primarily engaged in the refining of crude oil and distribution of petroleum products. As of 2021, Formosa Petrochemical was the second-largest oil refiner operating in Taiwan, behind the Chinese Petroleum Corporation. The company has had a presence in the U.S. since the early 1980s, operating three manufacturing plants in the U.S. state of Louisiana.
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