July 19, 2023 /SemiMedia/ -- According to reports, although 2023 is entering the peak season in the second half of the year, the outlook for consumer electronics products is still not optimistic, while the demand for automobiles and industrial control is expected to remain stable.

The report pointed out that in terms of major consumer applications, mobile phone shipments are expected to be further reduced, and shipments of personal computers and notebook computers are expected to remain slow, and other consumer products have not shown significant improvement. A growing number of businesses believe that the new growth trend will not restart until 2024.

Weak new growth means that customers have no expectations for the consumer market this year, which in turn affects IC demand.

The consumer electronics industry is still facing new challenges, and the demand for consumer goods will not be as stable as in previous years. However, demand for non-consumer goods remained relatively stable. In the second half of the year, demand momentum including automobiles and industrial controls will return to normal.

After a short-term destocking, the subsequent recovery of demand momentum in these industries is indeed much better than that of consumer electronics. Some IDMs have even raised their financial performance expectations for 2023.