China’s chip sales fall 21% as global chip demand remains weak

China’s chip sales are down 21% as global chip demand remains weak. According to industry data, it resulted in a 21.2% year-over-year drop in China’s semiconductor sales to $13.4 billion in November 2022.

This was China’s steepest annual loss in sales since July, when the country’s monthly sales in 2022 began to fall. Last November, China’s smartphone sales fell 36% year on year to 22.2 million devices.

Last month, Washington placed 36 Chinese businesses on its trade blacklist, including flash memory chip manufacturer Yangtze Memory Technologies Co.

This follows the Biden administration’s last move in October 2022, which included additional steps to block China’s access to cutting-edge semiconductors.