Semiconductor Manufacturing International Corp. (SMIC) faces adversity despite positive industry comments. Warned by SMIC about prolonged smartphone market recovery and geopolitical tensions causing chip oversupply, these concerns diverge from Samsung and TSMC’s optimism. SMIC’s third consecutive quarterly revenue decline highlights the tech downturn and US efforts to limit China’s tech sector. While SMIC benefited from Huawei’s popularity, geopolitical tensions have escalated global chipmaking capacity. SMIC’s shares plunged following a revenue fall, while the company is raising its capital expenditure to bolster chip production amid a tough market and uncertain smartphone future in China.
Semiconductor Challenges: SMIC’s Struggle Amid Global Chip Glut
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