MIC forecasted that shipment value of the Taiwanese semiconductor industry will grow 2.2% year on year to NT$2.2 trillion (US$66.5 billion; US$1=NT$33.07) in 2016, as the DRAM price decline slows and the IC packaging and testing sector continues to grow, reported United Evening News on September 29. As end-user products become slim, energy efficient, and multi-functional, Taiwanese IC packaging and testing companies have cooperated with EMS (Electronic Manufacturing Services) vendors to develop SiP (System in Package) technologies and provide vertical integration services to meet customers' needs. Meanwhile, the worldwide semiconductor industry is expected to see its shipment value decline 1% in 2016, due to lukewarm demand and rapid price decline in smartphone chips in emerging markets, said MIC.