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Semiconductor Sales Post 2.2 Percent Year-Over-Year Growth

Global sales of semiconductors grew just 0.7 percent to $25.03 billion in August, up slightly from $24.9 billion in July, the Semiconductor Industry Association (SIA) reported.

On a year-to-date basis, chip revenues grew 2.2 percent year-over-year.

Sales in August were mainly driven by strong demand by sales of media tablets and PCs, according to Brian Toohey, SIA president. “Growth in these areas is encouraging, however lower consumer and industrial demand across a wide range of products and markets is keeping overall sales lower than expected at this point,” Toohey said.

Semiconductor sales were also driven by strong sales in Japan due to recovery efforts from the March 11 earthquake. Companies are rebuilding facilities damaged or destroyed by the quake and tsunami and buying high-tech equipment, which helped drive chip sales.

Also impacting semiconductor revenue was increased semiconductor content in cars. Automotive application specific semiconductors have experienced double-digit growth year-to-date.

The SIA also reported that while there is slow growth in the global economy, growth in the semiconductor industry looks promising.