China's largest chipmaker SMIC is now the No. 3 foundry in the world, Counterpoint says
Publishing timestamp: 2024-05-23 04:46:01
Summary
SMIC has surpassed GlobalFoundries and United Microelectronics Corporation to become the world's third-largest foundry in terms of revenue in the first quarter of 2024. The company's quarterly results exceeded market expectations, with demand recovery in China driving growth in various applications. Despite facing U.S. sanctions and technological limitations, SMIC remains a key player in China's semiconductor industry, as evidenced by its involvement in Huawei's Mate 60 Pro smartphone. However, analysts note that SMIC still lags behind TSMC and Samsung Electronics in terms of chip production technology.
Sentiment: MIXED
Tickers: 2330-TW, 2303-TW, GFS, 981-HK,
Keywords: globalfoundries inc, taiwan semiconductor manufacturing co ltd, technology, semiconductor manufacturing international corp, united microelectronics corp, breaking news: technology, business news,