IQE says collapse in smartphone sales may wipe one-third off revenue in first half of 2023
Plunging demand for semiconductors is taking an obvious toll on the chip sector, and Brit compound semiconductor wafer maker IQE is warning of a serious dent in sales., the London Stock Exchange listed business said it had seen an acceleration of de-stocking trends across the tech industry,"with weaker demand leading to inventory build-up throughout the supply chain."
"This reduction in customer orders and forecasts is expected to result in a decline of approximately £30 million in reported revenues for H1 2023," the Cardiff-based wafer manufacturer said. It noted the patterns monitored by the Semiconductor Industry Association that reported an 18.5 percent tumble in shipments during calendar Q1.
The"near-term softness" is calculated by management to be temporary based on current discussions taking place with customers and"our pipeline of new opportunities." To provide some context for the revenue shortfall, IQE reported revenue of £86.2 million a year ago, so this is no small chunk of change for the business. The Wireless division offers radio frequency and wireless epitaxial wafer materials, and the Photonics unit builds components used in 3D sensing, data comms and datacenters.
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