The global semiconductor industry posted a growth of a little over one percent last year amid an industry wide slump.

According to market research firm Gartner on Wednesday, global chip sales stood at 601-point-seven billion U.S. dollars in 2022, up one-point-one percent from 595 billion dollars in 2021.

It is a significant slowdown compared to the 26-point-three percent on-year growth registered in 2021.

The annual sales of Samsung Electronics contracted 10-point-four percent from 73-point-two billion dollars in 2021 to 65-point-six billion dollars mainly due to slump in its flagship business of memory chips.

Still, the South Korean tech giant remained on top in terms of global market share, with Intel trailing at 58-point-four billion dollars with a market share of nine-point-seven percent.

Another South Korean player SK hynix came in third at six percent, followed by Qualcomm at five-point-eight percent and Micron at four-point-six percent. Taiwan’s TSMC, the world’s largest contract chipmaker, was not included in the survey.

Source: KBS World Radio