’ve dropped like a rock,” SMIC co–CEO Haijun Zhao told analysts on a conference call last week. “Some customers hold five months of inventory in the supply chain. Oversupply is very serious.” shortages of power management ICs and AMOLED drivers as well as MCUs and parts for WiFi 6, where demand remains strong. tech war between the U.S. and China . More recently, an inventory glut has emerged in China while demand in the U.S. and Europe remains strong, according to the company. as much as $44 billion to meet demand the company believes could grow by up to 20%…