Semiconductor Manufacturing International Corp (SMIC), mainland China’s largest contract chipmaker, has divested its entire stake in an unprofitable chip foundry operation amid a new wave of consolidation in the domestic integrated circuit (IC) industry. Shanghai-based SMIC agreed to sell its 14.83 per cent stake in Ningbo Semiconductor International (NSI) for 57.01 yuan (US$7.94) per share to semiconductor design firm Goke Microelectronics, according to the chipmaker’s filing on Thursday. The...