NEEDHAM, MA - Global smartphone shipments rose 1.5% year-over-year to 304.9 million units in the first quarter, according to preliminary data from IDC. The industry’s performance matched expectations, with manufacturers accelerating output to sidestep anticipated US tariff increases on Chinese imports.

MILPITAS, CA – Global semiconductor equipment sales rose 10% in 2024 to $117.1 billion, setting a new high, according to SEMI’s latest report. Growth was led by wafer processing and back-end equipment, with the latter rebounding sharply due to rising demand for AI and high-bandwidth memory production.

China drove much of the momentum, with investments climbing 35% to $49.6 billion, making it the top regional market. Korea followed at $20.5 billion, up 3%, while Taiwan dropped 16% to $16.6 billion. North America saw a 14% increase to $13.7 billion, reflecting renewed domestic manufacturing efforts. Europe and Japan saw declines, down 25% and 1%, respectively.

SEMI president and CEO Ajit Manocha said the record-setting year was fueled by “regional investment trends, advancements in logic and memory, and AI-driven demand.”