MILPITAS, CA – North America-based manufacturers of semiconductor equipment posted $1.89 billion in billings worldwide in January (three-month average basis).

The figure was down 20.8% year-over-year and 10.5% sequentially, according to SEMI.

“January billings of North American equipment manufacturers declined 10% compared to the prior month,” said Ajit Manocha, president and CEO of SEMI.

“Weakening smartphone demand and high inventory levels are eroding capital equipment investments, especially by memory suppliers.”