China’s Semiconductor Manufacturing International Corp. (SMIC) said on Friday that demand for chips exceeds supply, and raised its expectations for sales for the first half of the year, reported Reuters.
“Our current capacity could not fulfill customer needs, and products in every market segment faced shortages,” Zhao Haijun, co-chief executive of SMIC, said in a company earnings call.
SMIC reported sales of $1.1 billion in Q1 2021, a year-on-year increase of 22%, and gross profit reached $250 million, a 7.1% increase. The company said it expected revenue of $2.4 billion for the first half of the year, which it called “higher than expected.”
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