Semiconductor companies have signalled that the industry’s sharpest slowdown in more than a decade is lasting longer than expected, as weakening demand for automotive components compounds slumping personal computer and smartphone sales.
Taiwan Semiconductor Manufacturing Company, the world’s largest chip producer, this week pushed back its expectations for a market recovery, as the industry bellwether projected its first decline in annual revenues since 2009.
After sales of electronics boomed amid widespread component shortages during the peak of the Covid-19 pandemic, industry stockpiles of chips have been building up since last summer.
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