Semiconductor Manufacturing International Corp. (SMIC) said it will seek funding from another source after the US held off approving a US$769m loan that SMIC was reportedly going to use to buy chipmaking equipment from US suppliers, the Associated Press reported. The loan was withheld after protests by US memory-chip vendor Micron Technology. Separately, citing industry-wide downturns, SMIC reported a US$11.2m fourth quarter loss, versus a US$39.3m net income a year ago. A 5-7% quarterly decline in SMIC's average selling price and a lawsuit settlement with TSMC over patent infringement also contributed to the loss.
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