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China's SMIC raises Q2 profit growth estimate

Mon Jun 29, 2009 8:03am EDT

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HONG KONG, June 29 (Reuters) - SMIC (0981.HK) (SMI.N), China's biggest contract chip maker, on Monday said it raised its revenue growth forecast for the second quarter to 76 between 78 percent compared with the previous three months. Semiconductor Manufacturing International Corp, which counts Texas Instruments (TXN.N) and Qualcomm (QCOM.O) among its clients, had previously estimated its second-quarter revenue would rise 58 to 62 percent. [nN29419630]

Since the release of its previous forecast in April, SMIC said it has seen strong growth in customer orders, exceeding its earlier expectations, due to robust demand in the Chinese market.

(Reporting by Jun Ebias; Editing by David Holmes)

((jun.ebias@thomsonreuters.com; +852 2843 6537; Reuters Messaging:jun.ebias.reuters.com@reuters.net))

((If you have any query or comment on this story, send an email to news.feedback.asia@thomsonreuters.net)) Keywords: SMIC/REVENUEFORECAST

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