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China's SMIC vows to step up its chip technology as profits sag

Chipmaker aims to gain ground on rivals with government-backed R&D

China's SMIC plays a key role in its country's ambition to build a competitive semiconductor industry (Photo by Cheng Ting-fang)

TAIPEI Chinese contract chipmaker Semiconductor Manufacturing International Corp. has vowed to bring its chip technologies up to speed with the help of government support, despite deteriorating profits and a slowing mobile market.

Co-chief Executive Liang Mong-song, brought in by SMIC last October from Samsung Electronics, said he will accelerate development of advanced chip technologies to capture future growth.

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