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Destocking hurt August chip export

Posted: 14 Sep 2011 ?? ?Print Version ?Bookmark and Share

Keywords:destocking? chip export? PC market?

The drop in chip exports due to the earthquake and tsunami in Japan is starting to ease out, according to Bruce Diesen, analyst at Carnegie Group. The three-month average of worldwide chip sales is valued at $24.4 billion by the World Semiconductor Trade Statistics.

The reported figure is down on the $24.9 billion for July, the analyst said. This would be an exceptional sequential fall as the three-month moving average has climbed in August compared with July in all but one (2001) of the last ten years.

"We think there was destocking at distributors due to uncertainty about the world economy, plus unwinding of extra inventory bought in the first months after the Japanese earthquake," stated Diesen.

He added that Japanese chip exports rose sharply in July, but the quicker than expected recovery had revealed that many customers double ordered in the months after the earthquake. "Ironically, the rebound in Japan's exports in July probably prompted many customers to cancel orders in August."

The PC market is most likely affected due to high inventories at Acer and HP, Diesen noted. The market for semiconductors for low-end handsets and automotive were probably among the more robust sectors.

Diesen is sticking with his four percent annual global chip market dollar growth forecast for the year, but said that if August comes in as expected and September does not improve, a cut will be necessary.

- Peter Clarke
??EE Times





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