China’s top chipmaker may be in hot water as US lawmakers call for further sanctions after Huawei ‘breakthrough’

Photo caption: US President Joe Biden and China’s President Xi Jinping meet on the sidelines of the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 14, 2022. Photo credit: Saul Loeb / AFP via Getty Images. Article by Laura He. CNN: Business – updated September 7, 2023.

Hong Kong (CNN) — Shares in SMIC, China’s largest contract chipmaker, plunged on Thursday, after two US congressmen called on the White House to further restrict export sales to the company. The comments came after Huawei Technologies introduced the Mate 60 Pro, a Chinese smartphone powered by an advanced chip that is believed to have been made by SMIC. Last week’s launch shocked industry experts who […]

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