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9th February 2024, 07:26 | #1 |
[M] Reviewer Join Date: May 2010 Location: Romania
Posts: 148,802
| SMIC Concerned About Financial Performance in 2024 Semiconductor Manufacturing International Corporation (SMIC) posted better than expected fourth quarter 2023 financial tallies, but issued a warning with a downward revisement of near future gross margin expectations. According to DigiTimes Asia and TrendForce, China's leading pure-play semiconductor foundry has experienced an overall decline in net profit due to various cited factors including: "the industry downturn, weak market demand, high industry inventory, and fierce competition among peers, all contributing to reduced capacity utilization and decreased wafer shipment for the group." The DigiTimes report focuses mainly on a significant SMIC shares plunge—stock prices are reported to have dropped by ~20% in early 2024, indicating a loss of confidence in the foundry's prospects. https://www.techpowerup.com/318888/s...rmance-in-2024 |
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