China's largest chipmaker SMIC is now the No. 3 foundry in the world, Counterpoint says
SMIC held a 6% market share in terms of global foundry revenue in the first quarter, up from 5% last year, overtaking GlobalFoundries and Taiwan's United Microelectronics Corporation.
This places SMIC only behind Taiwan's TSMC and South Korea's Samsung Foundry.
"SMIC's quarterly results surpassed market expectations, and the company secured the No. 3 position in foundry revenue market share in Q1 2024 for the first time, as demand recovery begins in China, including CIS, PMIC, IoT, and DDIC applications," Counterpoint Research said.