Semiconductor Manufacturing International Corporation (SMIC), China’s top chip maker, said the Shanghai lockdown could reduce production by 5 per cent this quarter, while domestic smartphone makers could see as many as 200 million fewer shipments this year.
SMIC co-CEO Zhao Haijun said production has been affected despite efforts to maintain operations in a “closed-loop” mode that keeps workers living and working on site. “We are trying to make up for the production losses before the end of June using our factories outside Shanghai, but the losses may not be compensated,” Zhao said on an earnings conference call on Friday.