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Taiwan Semiconductor Manufacturing Company Limited (0LCV.L)
- Bloomberg
Huawei Books First Sales Rise Since US Sanctions Hit Its Phones
(Bloomberg) -- Huawei Technologies Co. reported its first quarterly sales rise since the end of 2020, as the Chinese telecom gear giant fights to survive the US blacklisting that sank its smartphone business.Revenue ticked up by 1% to 170.6 billion yuan ($25.3 billion) in the three months ended in June, according to Bloomberg calculations based on the company’s first-half revenues of 301.6 billion yuan. It is the company’s first sales growth since the last quarter of 2020, when US sanctions heav
- Bloomberg
China’s SMIC Warns of ‘Rapid Freeze’ as Smartphone Demand Skids
(Bloomberg) -- Semiconductor Manufacturing International Corp. warned that clients in sectors such as smartphones were freezing orders, underscoring how a downturn in consumer electronics demand is hurting the chip sector.Waning demand from makers of smartphones and TV components is forcing SMIC to readjust its manufacturing plans, co-CEO Zhao Haijun told analysts on Friday. The economic downturn and inventory adjustments have spurred “rapid freeze and urgent order halts” as some clients hold of
- Bloomberg
Ex-Arm Boss Quits SMIC’s Board as US-China Rift Widens
(Bloomberg) -- Tudor Brown, the former president of Arm Ltd., has resigned from the board of Semiconductor Manufacturing International Corp., stepping away from the Chinese chipmaker that has been hit with US sanctions.Brown, a celebrated engineer who was part of Arm’s founding, is leaving SMIC after nine years on its board. He disclosed the move on his LinkedIn page. SMIC also confirmed the departure in an exchange filing. “Bitter sweet day today. After 9 years I resigned from SMIC board. The i
