MILPITAS, CA – Global fab equipment spending for front-end facilities is expected to decrease 22% year-over-year to $76 billion in 2023 from a record high of $98 billion in 2022 before rising 21% YoY to $92 billion in 2024 to reclaim lost ground, SEMI announced in its latest quarterly World Fab Forecast report. The 2023 decline will stem from weakening chip demand and higher inventory of consumer and mobile devices.

SENAI, MALAYSIA – VS Industry reported revenue of MYR1.15 billion ($258 million) for the second quarter of its fiscal year, a 13.1% increase from the second quarter of last year.

CHENNAI, INDIA – Indian PCBA manufacturer Syrma SGS Technology is looking to double its SMT lines by using the proceeds of its IPO.

ARLINGTON, VA – JEDEC has announced the formation of the JC-42.9 Automotive Steering Subcommittee responsible for investigating memory technologies and recommending solutions pertaining to automotive applications.