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

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

CHENG TING-FANG, Nikkei staff writer

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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