Global chip sales in January were up significantly on the same month last year despite a fall against December 2002's figures, according to data released today by the Semiconductor Industry Association.

Last month, worldwide chip sales totalled $12.2 billion, down on December's $12.5 billion. The SIA blamed the "modest" 2.4 per cent month-on-month slip on "seasonal demand patterns" - apart from 2000, every year among the last ten has seen a similar December-January dip.

However, January 2003 sales were 22 per cent up on the $10 billion the SIA recorded for January 2002, a sign, it believes, that its healthy double-digit growth prognosis for 2003 as a whole remains viable.

All territories showed increased year-on-year chips sales, the SIA reported, with the Japanese and Asia-Pacific markets both seeing 34 and 32.6 per growth, respectively. Europe followed with a 16 per cent year-on-year sales rise. Sales growth in the Americas was just 2.8 per cent.

The SIA sees rising IT spending and double-digit PC sales growth leading the upturn, along with increasing demand for broadband and wireless communications systems. ®