Not rosy for SMIC
By Zhu Shenshen |
August 12, 2011, Friday
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Print Edition
Print Edition
SEMICONDUCTOR Manufacturing International Corp yesterday forecast revenue to decline in the third quarter of this year and planned to cut capital expenditure this year.
SMIC, the biggest made-to-order chip maker on the Chinese mainland, lost US$3.8 million in the second quarter against a net profit of US$96 million a year ago. The Shanghai-based firm attributed the net loss to declining revenue from weak industry demand and consumers' preference for more advanced products.
The revenue fell 5.9 percent to US$352.4 million in the second quarter from a year ago.
SMIC expected the revenue to continue to fall 14-17 percent in the third quarter.
SMIC, the biggest made-to-order chip maker on the Chinese mainland, lost US$3.8 million in the second quarter against a net profit of US$96 million a year ago. The Shanghai-based firm attributed the net loss to declining revenue from weak industry demand and consumers' preference for more advanced products.
The revenue fell 5.9 percent to US$352.4 million in the second quarter from a year ago.
SMIC expected the revenue to continue to fall 14-17 percent in the third quarter.
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