China's top chipmaker reports Q2 plunge in profits
Beijing (AFP) Aug 8, 2024
Leading Chinese chipmaker SMIC announced Thursday a sharp year-on-year drop in profits during the second quarter, as a domestic price war and technological rivalry between Beijing and Washington show no signs of abating. The United States has in recent years taken steps to cut off Chinese firms from accessing its technology and has tightened restrictions on semiconductor exports to the world
Leading Chinese chipmaker SMIC announced Thursday a sharp year-on-year drop in profits during the second quarter, as a domestic price war and technological rivalry between Beijing and Washington show no signs of abating. The United States has in recent years taken steps to cut off Chinese firms from accessing its technology and has tightened restrictions on semiconductor exports to the world