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SMIC Announces 80 Percent Drop In Profit For Third Quarter Despite Kirin 9000S Demand Surge Caused By Huawei Mate 60 Popularity Boost

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SMIC announces massive drop in profit for third quarter 2023

An increased number of Kirin 9000S orders did not aid the finances of SMIC as China’s largest semiconductor manufacturer posted a massive 80 percent dip in profits for the third quarter of this year. This drop is the company’s biggest in quarterly income since 2019, which was 64 percent. Overall, total revenue surpassed $1.621 billion, with a $93.98 million profit. Looking at these statistics, SMIC has a ton of catching up to do before it can match the earnings capabilities of Samsung, though the U.S. export controls continue to make things difficult for the chip maker. Several industries have also […]

Read full article at https://wccftech.com/smic-announces-massive-profit-loss-depsite-increase-in-kirin-9000s-orders/

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