KUALA LUMPUR (Aug 22): Global chip sales for 2017 is expected to reach US$397 billion, which would top the record of US$339 billion set last year, according to the World Semiconductor Trade Statistics (WSTS).

WSTS, which tracks chip sales, has revised its forecast for 2017 semiconductor sales, saying it now expects growth of 17% compared with 2016.

The organisation had initially forecast that chip sales would increase by 11.5% this year.

The revision by WSTS is in line with the forecasts of various other industry groups.

WSTS bases its forecasts and sales reports on data provided by more than 50 semiconductor company members.

The forecast by WSTS was reported by Electronic Engineering Times yesterday and is found on the website of the U.S-based Semiconductor Equipment & Materials International (SEMI).

Further growth in chip sales is expected next year, with WSTS predicting an additional 4.3% increase.