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SMIC Outpaces Rivals on Strong Local Demand
By Alan Patterson, EETimes (February 13, 2022)
Semiconductor Manufacturing International Corp. (SMIC), China’s largest chip maker, posted 39 percent growth in 2021 that led other foundries on strong domestic demand.
The company’s 2021 revenue of $5.4 billion rose 39 percent from the previous year, more than doubling the 18.5 percent growth of Taiwan Semiconductor Manufacturing Co. (TSMC) and other top-ranked foundries.
SMIC benefited from strong demand in China, the world’s largest and fastest-growing market for chips. China’s domestic electronics companies such as telecom giant Huawei are turning to local suppliers like SMIC after the U.S. blocked TSMC from selling advanced products to Huawei amid a tech war between the U.S. and China.
“The global shortage of chips and the strong demand for local and indigenous manufacturing brought the company a rare opportunity, while the restrictions of the Entity List set many obstacles to the Company’s development,” SMIC said in a press statement. “The company rose to the challenge, tackled difficulties precisely and achieved sound performance.”
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