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Microchip giant warns demand for mobiles falling ‘like a rock'
Evening Standard
|May 13, 2022
THE world's biggest microchip maker has said demand for mobile phones and computers has dropped “like a rock” as war in Ukraine and Covid lockdowns in China take their toll on consumer demand for electronics.
The boss of Semiconductor Manufacturing International Co (SMIC) told investors: “There are at least 200 million units of smartphones that will disappear suddenly this year and the majority of them are from our domestic Chinese phone makers.
“We cannot yet see an end to the downtrends in these segments."
The downbeat comments came even as SMIC reported record sales and earnings in the first quarter of 2022.
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