By Kate Yuan

(JW Insights) Apr 26 -- China’s leading image sensor maker Will Semiconductor ranked 10th in the Revenue Ranking of Global Top 10 IC Design Houses in Q4 2022 for four consecutive quarters, according to TrendForce on April 25.

The Shanghai-based company benefited from the demand for new Android devices, resulting in a 2.7% quarter-over-quarter increase, or approximately $530 million.

Founded in 2007 and listed on the Shanghai Stock Exchange, Will Semiconductor posted RMB20.078 billion ($2.9 billion) revenue in 2022 on April 7. Its image sensor business for the automotive market increased by 56.55% to RMB3.633 billion ($524.84 million).

The top five companies on the ranking list are Qualcomm, Broadcom, Nvidia, AMD, and MediaTek. Most IC design houses saw their revenue fall in 4Q of 2022 due to a weak consumer market and customer inventory adjustments.

The revenue performance of the world’s top 10 IC design houses declined by 9.2% quarter-over-quarter, or approximately $33.96 billion in Q4 2022. Unfavorable factors such as weak overall consumer consumption, the lockdown restrictions from the Chinese mainland, and the slowdown of corporate IT spending and cloud service provider demand have impacted the revenue, said TrendForce.

TrendForce predicted that the revenue of these top 10 companies will keep declining into 1Q of 2023, owing to ongoing inventory corrections across the entire supply chain as well as Q1 being the traditional off-season for consumer demand.

The IC design industry is still in the destocking process. TSMC stated in a recent investor conference that the inventory adjustment of IC design and semiconductor will take longer than expected, and may last till Q3 before returning to a healthier level, JW Insights noted.