Chinese chipmaker SMIC warns of weak outlook despite record 2022 revenue
By
Biju Kumar
SHANGHAI: Chinese chip foundry Semiconductor Manufacturing International Corp (SMIC) on Thursday warned of a weak 2023 despite record high sales last year, as slowing demand for electronics placed pressure on its business.
Backed by funding from Beijing, SMIC is China’s best hope for becoming a global leader in chip manufacturing that can rival Taiwan Semiconductor Manufacturing Corporation (TSMC), the industry’s largest foundry.