SMIC Expects Record Roll to Continue

Alan Patterson, EETimes
11/10/2016 00:00 AM EST

TAIPEI—Semiconductor Manufacturing International Corp. (SMIC), China’s largest foundry, said it expects strength in its business to continue as it rides a wave of demand in China.

The company forecast in a conference call to announce its third-quarter results that sales in the current quarter will rise as much as 7 percent from the record $774.8 million in revenue it posted during the July to September period this year.

“SMIC is seeing robust demand across the board, and we reiterate our growth target of 20% compounded annual growth from 2016 to 2019,” said SMIC CEO Tzu-Yin Chiu. “In 2016, SMIC is growing in excess of 28 year on year. We are forecasting growth for both the fourth quarter of 2016 and the first quarter of 2017. We are on track to achieve another record year of revenue and net profit.”

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