An average of 30 Chinese chip-related companies shut down each day in 2023, as US tech export sanctions on the country continue to bite, a report in Tom’s Hardware said.
More than 22,000 chip-related firms have ceased trading since 2019, but 2023 saw record-setting extinction rate, according to the tech news website story, citing a DigiTimes report. A record 10,900 chip-related companies have lost their registration in 2023 so far – a huge leap from the 5,746 companies that folded in 2022.
US tech curbs have played a part, the story went on, but most also lost money from unsold stock, due to market oversupply and a general downturn in the semiconductor industry.
Read the full story: Tom’sHardware
- By Sean O’Meara
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