Sales of semiconductor chips plunged to a 35-year high in Q1

Global sales of semiconductor chips fell 15.5 percent in the first quarter from the previous quarter, the biggest quarterly decline in the past 35 years.

The three-month average for chip sales in March was $32.3 billion, down 1.8 percent from February and 13 percent from March 2018.John Neuffer, President and chief executive of the semiconductor industry association (SIA), said all categories of semiconductor products had declined and that the year-on-year decline in sales in all major regional and semiconductor markets in March was in line with cyclical trends experienced by global markets.

According to market research firm IC Insights, the actual decline in sales in the first quarter was more severe than the SIA's three-month average of 17.1 percent, the biggest decline in a row since 2001 and the fourth-largest since 1984.