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Reuters

Reuters

Technology

Technology

China's SMIC Q4 profit slumps 38.4%, misses estimates despite revenue growth

Reuters
Summary
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80% Informative

China 's largest contract chipmaker, SMIC , reported 38.4% year-on-year fall in fourth-quarter profit.

Profit attributable to owners of SMIC reached $107.6 million in the October-December quarter .

Revenue rose 31.5% to $2.2 billion , compared to market expectations.

SMIC 's business remains overwhelmingly focused on mature-node chips for consumer electronics.

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