China’s semiconductor sales plunged 21.2% year on year to $13.4 billion in November, as economic headwinds continued to hammer global chip demand for the third consecutive month, according to the latest industry data, reports the South China Morning Post.
The decline recorded by China marked the biggest percentage drop among the world’s major markets for integrated circuits (ICs), according to data from the Semiconductor Industry Association (SIA), a Washington-based trade group that represents 99% of the US chip industry.
That also represented the biggest year-on-year decline for China since last July, when its monthly sales in 2022 started to head south, SIA data showed. China was the world’s largest semiconductor market in 2021, with total sales of $192.5 billion.