KUALA LUMPUR (Dec 1): Global semiconductor equipment billings contracted 11% year-over-year to US$25.6 billion in the third quarter of 2023 (3Q2023), according to SEMI.

In a statement on Thursday (Nov 30), SEMI in its Worldwide Semiconductor Equipment Market Statistics (WWSEMS) Report, said quarter-over-quarter billings slipped 1% during the same period.

SEMI president and chief executive officer Ajit Manocha said the third quarter dip in equipment billings was due to softening chip demand.

“However, China has shown strong demand and spending power for mature-node technologies, a sign of the industry’s resilience and growth potential in the long run,” he said.

Compiled from data submitted by members of SEMI and the Semiconductor Equipment Association of Japan (SEAJ), the WWSEMS Report is a summary of the monthly billings figures for the global semiconductor equipment industry.