SMIC posts net loss of US$963.5m as sales dip
By Zhu Shenshen |
April 28, 2010, Wednesday
|
Print Edition
Print Edition
SEMICONDUCTOR Manufacturing International Corp's net loss last year more than doubled from the previous year as sales decreased and the firm paid a cash settlement to end a legal dispute, it said yesterday.
SMIC, the biggest made-to-order chip maker on the Chinese mainland, lost US$963.5 million last year after posting a net loss of US$440.2 million in 2008. Revenue fell 21 percent year on year to US$1.07 billion in the period.
"In 2009, SMIC continued to expand its product portfolio and customer base despite the unprecedented challenging business environment due to the downturn in the global economy, which began in the fourth quarter of 2008," SMIC said in a statement.
Last year, SMIC's wafer shipments were 1.3 million units of 8-inch equivalent wafers, down 14.6 percent year on year. The average selling price of the wafers decreased 7.5 percent from US$840 per wafer to US$778 per wafer.
In November, the Shanghai-based chip maker agreed to pay rival Taiwan Semiconductor Manufacturing Company US$200 million in cash, as well as shares and warrants amounting to a 10 percent stake to settle a long-running legal dispute.
TSMC, the world's No. 1 made-to-order chip maker, had accused SMIC of patent infringement.
Richard Chang, SMIC's founder and chief executive, resigned after the settlement was signed.
SMIC's China business grew strongly last year, contributing 36 percent to overall revenue in the period, a 31 percent increase from 2008.
Communication applications still accounted for 50 percent of SMIC's revenue.
In the international foundry market, SMIC's ranking dropped from No. 3 in 2007 to No. 5 at the end of last year.
SMIC, the biggest made-to-order chip maker on the Chinese mainland, lost US$963.5 million last year after posting a net loss of US$440.2 million in 2008. Revenue fell 21 percent year on year to US$1.07 billion in the period.
"In 2009, SMIC continued to expand its product portfolio and customer base despite the unprecedented challenging business environment due to the downturn in the global economy, which began in the fourth quarter of 2008," SMIC said in a statement.
Last year, SMIC's wafer shipments were 1.3 million units of 8-inch equivalent wafers, down 14.6 percent year on year. The average selling price of the wafers decreased 7.5 percent from US$840 per wafer to US$778 per wafer.
In November, the Shanghai-based chip maker agreed to pay rival Taiwan Semiconductor Manufacturing Company US$200 million in cash, as well as shares and warrants amounting to a 10 percent stake to settle a long-running legal dispute.
TSMC, the world's No. 1 made-to-order chip maker, had accused SMIC of patent infringement.
Richard Chang, SMIC's founder and chief executive, resigned after the settlement was signed.
SMIC's China business grew strongly last year, contributing 36 percent to overall revenue in the period, a 31 percent increase from 2008.
Communication applications still accounted for 50 percent of SMIC's revenue.
In the international foundry market, SMIC's ranking dropped from No. 3 in 2007 to No. 5 at the end of last year.
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