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Tom’s Hardware
Tom’s Hardware
Technology
Matthew Connatser

Chinese foundry SMIC is bruised but not broken by U.S. sanctions — revenue still much higher than in 2021 and 5nm node on track

SMIC Huawei DigiTimes
SMIC.

Although U.S. sanctions caused SMIC's revenue to drop in 2023, the China-based foundry is largely unaffected and continues developing its 5nm node, according to DigiTimes. SMIC is actually expanding its production capacity for 7nm and 5nm nodes that will power upcoming Huawei processors. When those nodes reach high-volume production in the coming years, SMIC's revenue is expected to grow again.

SMIC didn't have a great 2023, and it closed out the year with $6.3 billion in revenue, down from $7.2 billion in 2022, as well as just $900 million in net profit, when 2022 saw double that. Gross margin in Q4 was also down to 16.4%, half of what it was in Q4 of 2022. Expectations for SMIC's Q4 earnings were even lower, which speaks volumes about the reversing fortunes the Chinese foundry is experiencing.

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