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China chipmaker SMIC says phone, PC demand has dropped 'like a rock'

CEO says Ukraine war, China lockdowns to wipe 200m units off handset shipments

Top China chipmaker Semiconductor Manufacturing International Corp. issued a gloomy outlook for consumer electronics demand on May 13, saying it sees no sign of a recovery anytime soon.    © AP

TAIPEI -- Top Chinese chipmaker Semiconductor Manufacturing International Co. says demand for mobile phones, personal computers and home appliances has dropped "like a rock" and shows no signs of recovering.

Speaking to investors on Friday, CEO Zhao Haijun said the Russia-Ukraine war and China's COVID lockdowns have massively dented demand for consumer electronics and home appliances, which in turn has led to a "serious" adjustment in chip orders for those segments.

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