According to market research firm Omdia, in the third quarter of 2022, the global semiconductor market achieved US$147 billion milestone, down 7 percent from US$158 billion in the second quarter.
Unfortunately, the South Korean tech giant, Samsung Electronics lost its No. 1 position in the global semiconductor market to Intel.
As per the official data, Samsung’s sales in Q3 2022 decreased by 28.1 percent from the previous quarter to only US$14.6 billion. The three companies Samsung Electronics, SK Hynix and Micron Technology gets a huge drop of more than US$10 billion in semiconductor revenue in the third quarter of this year.
Cliff Rimbach, chief researcher at Omdia, said that while the market decline in the second quarter was blamed on a weak PC market and the sluggishness of Intel, the main cause of the decline in the third quarter was the weakness of the memory market. He said the memory market saw profits decrease by 27 percent compared to the previous quarter due to customers’ inventory adjustments and a decrease in demand for chips from data centers, PCs, and mobile devices.