TSMC ranked Taiwan's most profitable company -

Taiwan's most profitable company for all of 2011 was Taiwan Semiconductor Manufacturing Co., (TSMC).

TSMC managed to bring in $4.4 billion in after tax net income in 2011. It was followed by enormous manufacturer Hon Hai, aka Foxconn, which has contracts for a number of high profile technology companies, including Apple. Hon Hai managed to rake in $2.7 billion in after tax net income.

Phone manufacturer HTC ranked third with income of $2 billion, despite its relatively poor performance towards the end of the year.

According to Taiwan Economic News, although HTC ranked third, it performed the best out of all listed companies in terms of earnings per share. It closed the year with $2.4 per share. 

ODM Quanta Computer also managed to break into the top ten list, bringing in $768 million in after tax net income. 

According to a recent report by IHS iSuppli, TSMC lead the pack by far in terms of pure play foundries. Fellow Taiwanese company and rival UMC was second.