According to the latest report of the research institute, SMIC made a historic breakthrough in the global wafer foundry industry in the first quarter of 2024, rising to the third largest wafer foundry in the world with a market share of 6%, after TSMC and Samsung. 

  Smic's rise was mainly driven by its growth in CMOS image sensors (CIS), Power management ics (PMIC), Internet of Things chips and display driver ics (DDIC), as well as market recovery. 

  In addition, SMIC expects to maintain its growth momentum in the second quarter as customer restocking needs expand. TSMC continued to maintain its leading position in the foundry industry, with a share of 62% in the first quarter, far exceeding expectations. 

  TSMC has also extended the duration of its 50% compound annual growth rate of AI-related revenue to 2028, showing its strong momentum and long-term planning in the AI field. 

  Samsung, as the second largest foundry, accounted for 13% of the market, and despite relatively weak demand in the mid - and low-end mobile phone market, Samsung expects a double-digit percentage rebound in wafer foundry revenue as demand improves in the second quarter. 

  The semiconductor industry has shown signs of demand recovery in the first quarter of 2024, although this progress is relatively slow, but after several consecutive quarters of destocking, channel inventory has normalized.

   The research institute believes that the strong demand for AI and the recovery of end-product demand will be the main growth drivers for the foundry industry in 2024.