Quarterly market share report by Counterpoint Research

China's SMIC Becomes World's Third-Largest Chip Foundry in Q1 with 6% Market Share

May 23, 2024, 08:56 PM

China's largest chipmaker, Semiconductor Manufacturing International Corporation (SMIC), has risen to become the world's third-largest chip foundry, according to Counterpoint Research. SMIC achieved this milestone by surpassing GlobalFoundries, securing a 6% market share in the first quarter (Q1) of 2024. The company now ranks behind Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung, which hold 62% and 13% of the market share, respectively. This marks the first time SMIC has reached this position, reflecting significant growth in its market presence. GlobalFoundries experienced a substantial revenue drop in the same period. SMIC also jumped ahead of UMC and Glofo.