Bolstered by robust sales of mobile devices in China and other emerging markets, shipment value of the Taiwanese IC industry (including design, manufacturing, packaging, and testing) reached around NT$480 billion (US$16 billion; US$1=NT$29.934) in the second quarter of 2013, up 16.8% sequentially and 14.5% year on year, according to TSIA's (Taiwan Semiconductor Industry Association) news release on August 14. The industry's quarterly shipment value is expected to peak in the third quarter this year, followed by a moderate decline in the fourth quarter due to inventory adjustments. Overall, it is projected that the industry's shipment value will surge to around NT$1,870.3 billion (US$62.5 billion) in 2013, up 14.4% year on year and outpacing the worldwide semiconductor industry's expected average growth of 3% to 5%.