China’s top chip foundry, SMIC, posted record quarterly revenue on strong domestic demand for 'legacy chips.' Third-quarter revenue rose 34% to $2.17 billion, with net profit up 58.3%. SMIC remains the only mainland operator processing 7-nanometre chips. Washington added SMIC to the US trade blacklist in 2020, and analysts believe Trump’s administration will maintain strict tech export controls.
China’s top chip foundry, SMIC, posted record quarterly revenue on strong domestic demand for 'legacy chips.' Third-quarter revenue rose 34% to $2.17 billion, with net profit up 58.3%. SMIC remains the only mainland operator processing 7-nanometre chips. Washington added SMIC to the US trade blacklist in 2020, and analysts believe Trump’s administration will maintain strict tech export controls.