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(ZEROHEDGE) – Samsung Electronics, the world's largest memory chipmaker, provided more insight into the worsening slowdown for semiconductors and the bust in global PC markets.
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Korea Economic Daily reported Samsung "lowered its semiconductor sales forecast for the second half of the year by more than 30%." The newspaper attributed slumping semiconductors demand "as the economy froze due to central bank rate hikes caused by global inflation."
The paper warned: "As the semiconductor industry has entered a full-fledged ice age, there are many forecasts in the industry that the recession will continue until the first half of next year when semiconductor inventories are eliminated."