TAIPEI -- Semiconductor Manufacturing International Co. on Wednesday slashed its revenue growth target for 2017 and forecast a softer-than-expected third quarter due to intense competition for fingerprint chips amid sluggish demand for domestic smartphone brands.
China's top contract chipmaker forecast revenue growth of only mid- to high-single digit for 2017, lower than its previous target to expand more than 10% in sales, Chief Executive Zhao Haijun said after reporting a sharp fall in earnings in the April-June quarter.
