• About
  • Contact
  • Privacy
  • Terms
  • DMCA
  • Sitemap
  • Write For Us
Saturday, February 27, 2021
Daily illinois - USA | News, Sports & Updates Web Magazine
  • Covid-19
  • News
    • All
    • Education
    • Politics
    • Sports
    • World
    Crown prince's actions in Khashoggi killing leave Saudi fund vulnerable, ex-Obama official says

    Crown prince’s actions in Khashoggi killing leave Saudi fund vulnerable, ex-Obama official says

    LeBron to Zlatan: No way I'll ever 'stick to sports'

    LeBron to Zlatan: No way I’ll ever ‘stick to sports’

    Chrishell Stause and Keo Motsepe

    Selling Sunset’s Chrishell Stause slams ex Keo Motsepe ‘playing the victim’

    House passes $1.9 trillion Covid relief bill, sends it to Senate

    House passes $1.9 trillion Covid relief bill, sends it to Senate

    The battle over voting restrictions is playing out nationwide. Arizona Republicans are leading the way

    The battle over voting restrictions is playing out nationwide. Arizona Republicans are leading the way

    Legendary F1 designer Murray names latest car after Lauda

    Legendary F1 designer Murray names latest car after Lauda

    7NEWS.com.au

    Democrats aim to pass virus aid bill

    Sandals sit in the dirt following an attack on a Nigerian school

    Nigeria’s Zamfara school abduction: Hundreds of girls missing

    Black Americans have disproportionately suffered from pollution. It’s time for a new policy.

    Black Americans have disproportionately suffered from pollution. It’s time for a new policy.

    Pelosi mistakenly refers to Wisconsin Sen. Ron Johnson as 'Don Johnson'

    Pelosi mistakenly refers to Wisconsin Sen. Ron Johnson as ‘Don Johnson’

  • Science & Tech
    • All
    • Mobile
    FDA advisors endorse Janssen's single-shot COVID-19 vaccine

    FDA advisors endorse Janssen’s single-shot COVID-19 vaccine

    Facebook apologizes for 'mistake' in threatening to ban 81-year-old woolen pig knitter for hate speech

    Facebook apologizes for ‘mistake’ in threatening to ban 81-year-old woolen pig knitter for hate speech

    How will NASA's Perseverance rover engineers pilot first helicopter on Mars?

    How will NASA’s Perseverance rover engineers pilot first helicopter on Mars?

    Sir David Attenborough narrates the "exhibits" in this AR iPhone app

    Sir David Attenborough narrates the “exhibits” in this AR iPhone app

    There's a secret code in the Mars rover's parachute

    There’s a secret code in the Mars rover’s parachute

    Spotify reveals HiFi tier, 80-country expansion, new exclusive podcasts

    Spotify reveals HiFi tier, 80-country expansion, new exclusive podcasts

    ‘Follow the Sun’ is a new Mac app to automate brightness and color temperature of HomeKit lights - 9to5Mac

    ‘Follow the Sun’ is a new Mac app to automate brightness and color temperature of HomeKit lights – 9to5Mac

    Democrats ask cable and streaming providers about their role in spreading misinformation ahead of Capitol riot

    Democrats ask cable and streaming providers about their role in spreading misinformation ahead of Capitol riot

    Bradley Voytek

    The Brain’s ‘Background Noise’ May Be Meaningful After All

    This Android's under-display selfie camera isn’t great, but it's a sign for future phones

    This Android’s under-display selfie camera isn’t great, but it’s a sign for future phones

  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    Review: Billie Eilish is an ordinary teen with extraordinary talent in 'The World's a Little Blurry'

    Review: Billie Eilish is an ordinary teen with extraordinary talent in ‘The World’s a Little Blurry’

    Coronavirus in Illinois updates: United Center COVID-19 vaccination site could distribute up to 6,000 doses a day; 2,441 new cases and 55 additional deaths reported

    Coronavirus in Illinois updates: United Center COVID-19 vaccination site could distribute up to 6,000 doses a day; 2,441 new cases and 55 additional deaths reported

    Writer-director Lee Isaac Chung (right) with actors Steven Yeun (left) and Will Patton (center) on the set of "Minari."

    What the controversy over ‘Minari’ says about being American

    Review: Mexico's 'I'm No Longer Here' spans the gap between alienation and connection

    Review: Mexico’s ‘I’m No Longer Here’ spans the gap between alienation and connection

    ACMs shut women out of top country category but say female representation improving

    ACMs shut women out of top country category but say female representation improving

    CPAC organizers begged attendees to wear masks — and got booed

    CPAC organizers begged attendees to wear masks — and got booed

    Gary Oldman, left, and Ben Affleck joined a Hollywood Reporter roundtable on COVID-19 and the movie

    Ben Affleck And Gary Oldman Reflect On The Changing Business Of Moviemaking During COVID-19

    Tobias Ighofose, Founder of BisonPlay

    Meet Tobias Ighofose: Entrepreneur Creating Diverse Mobile Games Inspired By His Daughter

    What’s playing at the drive-in: 'Minari,' 'Tom & Jerry,' a Billie Eilish doc and more

    What’s playing at the drive-in: ‘Minari,’ ‘Tom & Jerry,’ a Billie Eilish doc and more

    Dennis Stroughmatt's Cajun-Creole Trio entertains at Hill Prairie Winery near Oakford this Saturday evening for a Mardi Gras celebration.

    February finals

  • Lifestyle
    • All
    • Fashion
    • Food
    • Travel
    second co. apparel

    The Second Co. Drops Apparel + More Canadian Fashion News

    The inaugural Sunshine & Sunflower Day is happening at Kalbar – March 27, 2021 | Australian Food News

    The inaugural Sunshine & Sunflower Day is happening at Kalbar – March 27, 2021 | Australian Food News

    How did Bad Bunny end up as a snake plant on SNL? The team behind the skit explains

    How did Bad Bunny end up as a snake plant on SNL? The team behind the skit explains

    Demi Lovato shared a post on Instagram written by someone else that called gender reveal events 'transphobic.'

    Demi Lovato shares post claiming gender reveals contribute to transphobia, draws mixed reactions

    20 of the world's best soups

    20 of the world’s best soups

    Brandy, a brown tabby cat, was reunited on Feb. 22 with her owner, Charles, after she went astray for 15 years.

    Man reunited with cat after it vanished 15 years ago: ‘It was very emotional’

    Lady Gaga dognapping: FBI ‘investigating political motives’

    Lady Gaga dognapping: FBI ‘investigating political motives’

    Covid vaccine passports are being considered. And health experts and rights groups are deeply concerned

    Covid vaccine passports are being considered. And health experts and rights groups are deeply concerned

    product image

    32 Reusable Cloth Face Masks You Can Buy Now

    Supplier Catalog - Reiser

    Trends and Challenges in Pet Food and Treat Packaging – Food Industry Executive

34 °f
Chicago
39 ° Sun
28 ° Mon
30 ° Tue
41 ° Wed
No Result
View All Result
Daily illinois - USA | News, Sports & Updates Web Magazine
No Result
View All Result
Home News World

Chaos at the top of China’s biggest chipmaker C-suite chaos at the company China needs for its chipmaking future

by Staff Writer
December 16, 2020
in World
Reading Time: 3min read
0
Chaos at the top of China's biggest chipmaker
C-suite chaos at the company China needs for its chipmaking future
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter




Semiconductor Manufacturing International Corporation (SMIC), China’s biggest chipmaker, said Wednesday it was trying to confirm Chinese state media reports that its co-CEO Liang Mong Song had resigned, apparently in protest at the appointment of Chiang Shang-Yi, the former co-COO of Taiwanese chipmaker TSMC, to the board.

SMIC didn’t say which media reports it was referring to, but in a statement to the Shanghai Stock Exchange it said that it had known about Liang’s “willingness to resign under certain conditions.”

Related posts

Chrishell Stause and Keo Motsepe

Selling Sunset’s Chrishell Stause slams ex Keo Motsepe ‘playing the victim’

February 27, 2021
7NEWS.com.au

Democrats aim to pass virus aid bill

February 26, 2021

“The company is currently actively verifying Dr. Liang’s true intention to resign with him, and any further announcements on the above matters will be made in due course,” the company added in its statement.

The leadership turmoil comes at a tricky time for SMIC. It’s facing growing US threats to its business while trying to play a critical role in China’s mission to become much more self sufficient in semiconductors to power its future tech ambitions.

Chinese media — including Economic Information Daily and Beijing News — published a resignation letter from Liang in which he warned that US pressure was seriously threatening the development of advanced technology at SMIC, and said he was worried about the board appointment.

“I believe that the personnel proposal today will inevitably affect the company’s prospects,” he reportedly wrote. “I was very surprised and puzzled by the decision, because I didn’t know anything about it beforehand. I deeply feel that I am no longer respected and trusted.”

CNN Business was unable to verify the authenticity of the letter. Analysts at Bernstein wrote in a research note on Wednesday that Liang had earlier abstained from voting for Chiang’s appointment.

“As SMIC’s recent technology progress was directly attributable to Liang, we think his departure will trigger a negative market response,” the analysts said. They added that Liang has been “personally leading SMIC’s technology development,” and that the company may suffer a setback in its “future technology progress” if his exit is confirmed.

SMIC’s stock buckled following the news. Shares slid nearly 5% in Hong Kong and 5.5% in Shanghai.

SMIC has recently entered the US government’s cross hairs as tensions between Washington and Beijing escalate and potentially threaten the firm’s attempts to build cutting edge chip technology.

Much of China’s supply of chipsets comes from foreign companies, which power everything from Chinese smartphones and computers to telecommunications gear. Last year the country imported $306 billion worth of chips, or 15% of the value of the country’s total imports, according to government statistics.

Beijing has pledged to improve its chipmaking technology. SMIC, whose major shareholders are state-owned companies, said earlier this year that it wants to invest in technology and catch up with its global competitors.

SMIC remains three to five years behind industry leaders Intel (INTC), Samsung and TSMC (TSM) and analysts say that it has a long way to go to be a global competitor. Pressure from Washington threatens to make that goal even harder.

Earlier this month, the US Department of Defense added SMIC to a list of companies the agency claims are owned or controlled by the Chinese military, a decision that means SMIC is subject to restrictions like an inability to accept American investment.

SMIC has previously said that its inclusion on the list would have “no major impact” on its operations, and has also said that it has no relationship with the Chinese military.

But any level of US scrutiny is concerning. Chinese tech company Huawei, for example, has been slapped with a number of sanctions that have effectively crippled its global business.

Unlike Huawei, SMIC has not been added to a Commerce Department list that would essentially cut it off from US supplies and technologies. But the company has warned investors that potential US export restrictions are a concern.



Source by rss.cnn.com

Tags: SMIC: Chaos at the top of China's biggest chipmaker - CNNtech
Share196Tweet123Share49
  • Trending
  • Comments
  • Latest
Van Morrison teams with Eric Clapton for anti-lockdown song

Van Morrison teams with Eric Clapton for anti-lockdown song

December 19, 2020
Sen. Rand Paul's ‘Festivus Report’ claims $54B in tax dollars was 'totally wasted'

Sen. Rand Paul’s ‘Festivus Report’ claims $54B in tax dollars was ‘totally wasted’

December 23, 2020
'Zombie' greenhouse gas lurks in permafrost beneath the Arctic Ocean

‘Zombie’ greenhouse gas lurks in permafrost beneath the Arctic Ocean

December 24, 2020
second co. apparel

The Second Co. Drops Apparel + More Canadian Fashion News

0
Fact check: New York Gov. Andrew Cuomo announced he would defer his annual raise

Fact check: New York Gov. Andrew Cuomo announced he would defer his annual raise

0
Swedish government sidelines epidemiologist who steered country's no lockdown experiment as deaths rise

Swedish government sidelines epidemiologist who steered country’s no lockdown experiment as deaths rise

0
second co. apparel

The Second Co. Drops Apparel + More Canadian Fashion News

February 27, 2021
The inaugural Sunshine & Sunflower Day is happening at Kalbar – March 27, 2021 | Australian Food News

The inaugural Sunshine & Sunflower Day is happening at Kalbar – March 27, 2021 | Australian Food News

February 27, 2021
Review: Billie Eilish is an ordinary teen with extraordinary talent in 'The World's a Little Blurry'

Review: Billie Eilish is an ordinary teen with extraordinary talent in ‘The World’s a Little Blurry’

February 27, 2021
Daily illinois - USA | News, Sports & Updates Web Magazine

Copyright © 2020 Dailyillinois.com.

Navigate Site

  • About
  • Contact
  • Privacy
  • Terms
  • DMCA
  • Sitemap
  • Write For Us

Follow Us

No Result
View All Result
  • About Us Page
  • Contact
  • DMCA Policy
  • Home 1
  • Privacy Policy
  • Submit, Guest Post, Write For Us and Become a Contributor
  • Terms of Use

Copyright © 2020 Dailyillinois.com.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.