The local financial sector could also soon see a turnaround Read more at straitstimes.com.
By next year, the decline in global chip sales is projected to reverse and show growth of 11.8 per cent.
The nascent pickup was led mainly by fabless semiconductor companies, which design and develop semiconductor chips and integrated circuits but do not own or operate their own semiconductor fabrication facilities. Hence, while there are signs of sustained demand from expansions in GenAI, electric vehicles , internet of things and 5G networks, a recovery in the wider sector may take longer than expected.
In particular, China - the world’s largest chip market - has posed a significant drag on global chip sales since the third quarter of 2022.
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