NEEDHAM, MA – Worldwide tablet shipments were down 8.8% year over year in the third quarter of 2022, totaling 38.6 million units, according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker.

This was the fifth straight quarter of decline for the tablet market. Chromebook shipments also struggled in the quarter, falling to 4.3 million units and a year-over-year decline of 34.4%. Both markets have now shifted from supply constrained industries to ones that are demand challenged as consumer and education spending has slowed in the face of economic uncertainties.

SAN JOSE, CA -- Cadence Design Systems raised its yearly revenue and profit outlook after reporting strong second-quarter results fueled by growing demand for AI-driven chip and system design software.