BusinessEconomyTechnology

Global semiconductor sales drop

February sales slumped by more than 20% in annual terms, an industry association says

Exclusive News

Worldwide sales of microchips declined 4% in February in monthly terms to $39.7 billion, the Semiconductor Industry Association (SIA) reported on Thursday.

The figure is 20.7% lower than in February 2022, when sales totalled $50 billion, according to the SIA.

“Global semiconductor sales continued to slow in February, decreasing year-to-year and month-to-month for the sixth consecutive month,” SIA President and CEO John Neuffer said.

“Short-term market cyclicality and macroeconomic headwinds have led to cooling sales, but the market’s medium- and long-term prospects remain bright, thanks to growing demand across a range of end markets,” Neuffer added.

The report showed that regionally, year-to-year sales increased slightly in February in Japan (1.2%), but declined in Europe (-0.9%), North and South America (-14.8%), China (-34.2%) and the rest of the world (-22.1%). Month-to-month sales were down across all regions, the SIA noted.

The association represents 99% of the US semiconductor industry by revenue and nearly two thirds of non-US chip firms.

Semiconductors are used in a host of modern devices, from smartphones to self-driving cars, washing machines, advanced computing and guided missiles. The majority of microchips are made in East Asia, with Taiwan producing more than 60%, and much of the remainder split between South Korea, Japan, the US, and China.

For more stories on economy & finance visit RT News

Read more

Related posts
AfricaBusinessEconomyWorld

Direct flights from Libya to Italy set to resume

The country’s embassy in the North African nation tweeted that Rome had lifted the ban which had…
Read more
AfricaEconomy

‘People are dying’: South Africa workers protest economic woes

Africa’s most industrialised nation is facing rolling electricity blackouts, high unemployment and…
Read more
AfricaEconomy

Nigerian president cut costs by suspending new 10 percent plastic tax

Tinubu, who took office in May, has embarked on Nigeria’s boldest reform agenda in decades to…
Read more

Sign up for Africa Insider’s Daily Digest and get the best of  news, tailored for you.

Leave a Reply

Your email address will not be published. Required fields are marked *

150%
Politics

Both Putin and Zelensky are to blame for the Ukrainian Crisis, claims Lula-RT News

Worth reading...