Chinese chip manufacturer SMIC is seeking to consolidate its presence in the domestic industry by buying entities that it controls. SMIC is China's largest chip manufacturer, as the firm is the leading-edge chip fabrication company in the country. According to a statement last week, SMIC outlined that it would completely acquire the Semiconductor Manufacturing North China (Beijing) Corporation (SMNC) even as its profitability struggles amidst Beijing's push to boost its domestic chip production as it contends with US sanctions. SMIC Struggles To Achieve Profitability But Continues Expenditure As Planned SMIC's announcement comes a quarter after the firm outlined in May […]
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