Samsung loses the top rank in the international semiconductor market
Samsung loses its top rank in the international semiconductor market. Unfortunately, the top position has been taken over by Intel. Quite some bad news for Samsung.
As per Business Korea, the major reason behind this is the result of the shrinkage that the semiconductor market faced in Q3 of 2022. Omdia is a market research firm. It took into consideration research on the performance of the semiconductor market. According to the report the market held $147 billion in Q3 of 2022. This value is 7% less compared to the holdings of $158 billion in Q2 2022.
Where a gradual expansion over the span of eight consecutive quarters since 2020 has been observed in the semiconductor market. The industry was equally affected by COVID-19, just like any other business sector. Although electronic and IT products increased in their demand, while dwindling across the global semiconductor market.
One of the major reasons for such poor performance is the weakness of the memory market. The chief researcher at Omdia, Cliff Rimbach, mentions that the memory market faced a 27 percent reduction in profits compared to the last quarter. It was due to the inventory adjustments of the customers that resulted in a decreased demand for chips from PCs, mobile devices, as well as data centers.
This factor affected companies like Micron Technology, SK Hynix, and Samsung Electronics quite hard. Since all the above-mentioned companies are associated with the memory semiconductor business. Resultantly, a decline of more than $10 billion in revenue in Q3 2022 was recorded. The sales of Samsung dropped in Q3 by 28.1% from Q2 to only $14.6 billion. It lagged Intel, which put up $14.9 billion in sales.
Qualcomm secured the third rank. It recorded a 5.6% increase in Q3 as compared to the second quarter. SK Hynix plunged from third to the fourth position as sales reduced by more than 26%. Micron substituted Broadcom in the sixth position. Whereas Micron sales decreased by more than 27%.
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