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Chinese chipmaker SMIC offloads stake in Ningbo unit to focus on core operations

Semiconductor Manufacturing International Corp (SMIC), mainland China’s largest contract chipmaker, has divested its entire stake in an unprofitable chip foundry operation amid a new wave of consolidation in the domestic integrated circuit (IC) industry. Shanghai-based SMIC agreed to sell its 14.83 per cent stake in Ningbo Semiconductor International (NSI) for 57.01 yuan (US$7.94) per share to semiconductor design firm Goke Microelectronics, according to the chipmaker’s filing on Thursday. The...


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