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Net profit tumbles at SMIC in third quarter

Business | Tracy Hu Nov 15, 2017
SMIC (0981) yesterday posted a 72.7 percent drop in its net profit for the third quarter ended September 2017. It fell to US$30.59 million compared with US$112 million for the same period last year.

Meanwhile, revenue for the period amounted to US$769.7 million, a year- on-year decrease of 0.7 percent from US$774.8 million. Its gross margin was 23 percent in the third quarter, compared with 30 percent in the same period last year.

FIH Mobile(2038) saw a loss of US$318 million in profit from continuing operations from January to September, 2017, but revenue for the period increased 101 percent to US$8.3 billion.

For the third quarter ended September, it recorded a US$119 million loss, compared with last year's profit of US$44.63 million.



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