China's Ministry of Industry and Information Technology (MIIT) recently announced that China's electronic information manufacturing industry continues to maintain steady year-on-year growth of 1.2% in March, the Xinhua News reported on May 7. The growth represents the added value of major manufacturers in the industry, comprising mainly of smartphones and semiconductors. From January to March, the added value of those manufacturers, however, declined 1.1% year-on-year. In the first quarter of 2023, Chinese smartphone shipment volume declined 7% year-on-year to 331 million units, while Chinese semiconductor shipment volume dropped 14.8% to 72.2 billion units. According to MIC (Market Intelligence & Consulting Institute), global smartphone shipment volume is estimated to still reach 1.16 billion units in 2023, down 3% year-on-year. Shipment value of the Taiwanese semiconductor industry is expected to reach NT$4.1 trillion (US$136.7 billion; US$1= NT$30) in 2023, down 6.9% year-on-year, following double-digit growth in three consecutive years from 2020 to 2022.
Established in 1987, MIC is a division of III (Institute for Information Industry), a major government think tank, and one of the leading IT research institutes in Taiwan.