Chinese chip maker SMIC turns a profit

China’s biggest chip maker the Semiconductor Manufacturing International Corporation posted its first profit in more than three years and claimed the future's bright. SMIC said it made $96.03 million in the second quarter, compared to a loss of $98.2 million during the same period last year. Revenue was up 42.5 per cent to $381.1 million, the firm said. A one-off gain from the revaluation of company securities helped the outfit turn a profit. The last time it...