China's biggest chipmaker SMIC warns of 'fierce' competition as it misses quarterly profit expectations
Publishing timestamp: 2024-05-10 00:55:08
Summary
SMIC warned of intense competition in the chip industry as its net income plunged and gross margin slid. The company is prioritizing capacity construction and R&D investments to maintain its leading position. Despite being on the U.S. trade blacklist, SMIC's chips were found in Huawei's Mate 60 Pro smartphone, showcasing its technological capabilities.
Sentiment: MIXED
Keywords: semiconductor manufacturing international corp, technology, breaking news: technology, taiwan semiconductor manufacturing co ltd, business news, earnings,