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Semiconductor Manufacturing International Corporation (0981.HK)

HKSE - HKSE Delayed Price. Currency in HKD
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15.920+0.280 (+1.79%)
As of 03:27PM HKT. Market open.
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    China's top chipmaker Semiconductor Manufacturing International Corp said on Friday it anticipates smartphone sales from its clients this year to fall by at least 200 million units due to the Russia-Ukraine war and China's COVID lockdowns. While SMIC previously had issues fulfilling orders due to high demand amid a global chip shortage, customers from the smartphone, personal computer and household appliance sectors were now cancelling orders due to these two events, CEO Zhao Haijun told analysts after the company's quarterly results. Demand for such products "dropped like a rock" as sales in Russia and Ukraine were heavily impacted while China's COVID lockdowns meant that companies had trouble delivering products or had to shut stores, he said.

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