Companies & markets · Company news
SMIC Q3 revenue US$3.19bn; wafer ASP +1.8% QoQ, co-CEO says
SMIC reported a record Q3 revenue of US$3.19 billion, surpassing expectations due to strong demand for AI-related chips. The company's co-CEO highlighted improvements in product pricing and mix contributing to the results.
What was reported
Q3 revenue reached US$3.19 billion, up 6.1% quarter-on-quarter (QoQ).
Average wafer selling price increased by 1.8% QoQ.
Stronger-than-expected demand for AI-support chips drove sales growth.
Why it matters
In the semiconductor industry, revenue is often influenced by demand for specific technologies, such as AI, and pricing strategies. Companies like SMIC adjust their offerings and pricing based on market trends and customer needs, which can significantly impact financial performance.
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Source & attribution
This article is presented by DailyMIQ. General educational context is DailyMIQ commentary.
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