China’s Biggest Chipmaker Warns of Delays Due to US Sanctions



Mercedes Ruehl and Tom Mitchell | Financial TImes

Semiconductor Manufacturing International Corporation, China’s biggest chipmaker, warned on Thursday that its business was suffering delays and uncertainty due to US export restrictions introduced in September, even as it reported a 32 per cent rise in third-quarter revenue to $1.08bn.

SMIC, regarded as China’s most promising hope for breaking the country’s dependence on foreign manufacturers, acknowledged it was facing “extended or uncertain delivery lead times” for some US equipment as well as logistics delays due to the restrictions.

However, the company’s executives insisted the situation was “manageable”.

To read the full article, click here