China’s biggest chipmaker SMIC posted record revenue in 2022, despite ongoing U.S. sanctions, but warned of a more difficult year ahead given a slump in the semiconductor industry.
SMIC said on Thursday that 2022 revenue totaled $7.2 billion, up 34% year-on-year while its gross margin stood at a record 38%. That’s the second year of sales growth above 30% for the company.
However, SMIC said revenue in the first quarter is forecast to decrease by between 10% to 12% versus the December quarter.
