SEOUL -- Due to the sluggish global semiconductor market, Samsung Electronics faced a significant revenue decline in 2023. Data released by market research firm Gartner showed that the technology giant's global semiconductor revenue was $39.9 billion in 2023, down 37.5 percent from a year ago.
The global market research firm reported on January 16 that worldwide semiconductor revenue dropped 11.1 percent year-on-year to $533 billion last year. Samsung secured the second position in global revenue after the U.S. tech giant Intel, which recorded $48.7 billion. The U.S. company's semiconductor income decreased by 16.7 percent from 2022.
Qualcomm claimed the third position with $29 billion, followed by Broadcom with $25.6 billion, and Nvidia with $24 billion. South Korea's SK hynix ranked sixth with $22.8 billion. Taiwan's TSMC, recognized as the leading semiconductor consignment manufacturer, was not included in the market report.
"While the cyclicality in the semiconductor industry was present again in 2023, the market suffered a difficult year with memory revenue recording one of its worst declines in history," said Garner's vice president analyst Alan Priestley. "The underperforming market also negatively impacted several semiconductor vendors. Only 9 of the top 25 semiconductor vendors posted revenue growth in 2023, with 10 experiencing double-digit declines."
Meanwhile, the South Korean government unveiled its plan to inject about 622 trillion won ($472 billion) in building the mega-sized semiconductor cluster throughout southern Gyeonggi Province near Seoul. According to South Korean President Yoon Suk-yeol, the project is expected create at least three million jobs. By 2047, Samsung will invest 500 trillion won, and SK hynix will invest the remaining 122 trillion won.
reporter
Kim Joo-heon
jhkim123@ajunews.com
