SMIC Forecasts Tough Competition amidst Quarterly Profit Miss
Friday, 10 May 2024, 04:10
SMIC Warns of Tough Competition in Semiconductor Industry
China's biggest chipmaker SMIC reported a 68.9% decline in net income for the first quarter, dropping to $71.79 million.
Key Points:
- Net income plunges, missing expectations.
- SMIC forecasts 'fierce' competition ahead.
- Concerns rise about future profitability and market positioning.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.