"Full-Fledged Ice Age": Semiconductor Companies Slash Output On Supply Glut "Full-Fledged Ice Age": Semiconductor Companies Slash Output On Supply Glut Samsung Electronics, the world''s largest memory chipmaker, provided more insight into the worsening slowdown for semiconductors and the bust in global PC markets. Korea Economic Daily reported Samsung "lowered its semiconductor sales forecast for the second half of the year by more than 30%." The newspaper attributed slumping semiconductors demand "as the economy froze due to central bank rate hikes caused by global inflation." The paper warned: "As the semiconductor industry has entered a full-fledged ice age , there are many forecasts in the industry that the recession will continue until the first half of next year when semiconductor inventories are eliminated." Earlier this week, Samsung''s Device Solutions division said they "lowered our sales guidance for the second half of this year (the company''s internal forecast) by 32% from our April forecast." None of this should be a surprise as we recently outlined PC Demand Suffers'' Steepest Decline In Years'' As Chip Shortage Turns To Glut . "Both DRAM and NAND flash suppliers and customers are holding too many semiconductor inventories," an official told Korea Economic Daily.