Worldwide silicon wafer shipments in 2023 decreased 14.3% to 12,602 million square inches while wafer revenue contracted 10.9% to $12.3 billion over the same period, the SEMI Silicon Manufacturers Group (SMG) reported in its year-end analysis of the silicon wafer industry. The decline, a sharp departure from the previous three years of consecutive growth, stemmed from a slowdown in end-demand, coupled with a broad-based inventory correction. Softening memory and logic sector demand led to a d...