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SMIC cuts capex and R&D
China’s leading foundry, SMIC, has been cutting capex and R&D despite soaring imports of chip manufacturing equipment into China.
By David Manners, ElectronicsWeekly (September 4, 2024)
SMIC cut its H1 capex from $12 billion in H1 2023 to $8 billion in H1 2024 despite China spending $25 billion on semiconductor manufacturing equipment this year which is more than Korea, Taiwan and the US combined.
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