SMIC bumped up to third-largest foundry in the world in Q1

SMIC is the world’s third-largest foundry in a ranking published by Trendforce. Benefiting from inventory replenishments for consumer products and a tendency of localized production, the Chinese foundry grabbed a 5.7 percent market share by revenue in Q1, narrowly beating UMC (also 5.1 percent) and Globalfoundries (5.1 percent). Taiwan’s UMC’s revenue was relatively stable during the traditionally slow Q1, whereas Globalfoundries felt the sting of slowing automotive, industrial and data center markets. The two biggest foundries in the world, TSMC and Samsung, saw revenue declines of 4.1 and 7.2 percent, respectively. Trendforce projects low single-digit QoQ revenue growth in Q2 for the top 10 global foundries.