TAIPEI -- China's top contract chip manufacturer Semiconductor Manufacturing International Co. said on Friday it will double its capital spending and expects revenue to grow more than 10% this year despite the coronavirus outbreak. But like other chip companies, SMIC also warned that the worst may be yet to come as disruptions from the deadly virus ripple through the supply chain.
"The effect of the virus on the end demand is still unfolding, and we are monitoring the situation closely," co-CEO Zhao Haijun said in an earnings briefing on Friday. He added that all of the company's factories, which are mainly located in Shanghai, Beijing and Tianjin, are still running at full capacity. "We believe the impact will slowly show up in the second quarter."
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