As if the semiconductor market needed any more bad news, the Semiconductor Industry Association (SIA) released a statement showing how bad worldwide sales of semiconductors have fallen in the past year, while warning that the industry has yet to hit rock bottom.
"The global semiconductor industry is going through one of the steepest corrections in its history," said SIA President George Scalise. "While it would be premature to conclude that the sales decline has hit bottom, there are some indications that the rate of decline has moderated from the final quarter of 2008. The industry responded quickly to the changing market environment by curtailing production and reducing inventory as demand slowed in late 2008. The world’s two largest foundry manufacturers have recently reported slight improvements in factory utilization rates, albeit at levels well below those of a year ago," Scalise continued.
According to SIA, worldwide semiconductor sales sat at just $14.2 billion in February 2009, a decline of a little more than 30 percent over February 2008 when sales reached 20.3 billion. It also represents a 7.6 percent drop from one month ago when sales were $15.3 billion in January.
Scalise warned that sales are expected to keep falling "well below 2008 levels" for the foreseeable future.
Image Credit: SIA
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