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Global inflation and the Russia-Ukraine war have significantly dampened the consumer market demand, leading to inventory pileups. IC design houses have faced significant inventory management challenges, which has impacted capacity utilization rates of wafer foundries accordingly. Inventory clearance is expected to continue into the first half of 2023. This report looks into the development of the global and Taiwanese semiconductor industries, key trends, regional supply chain development, and geopolitical impacts; examines key issues such as the demand for PMIC and the development of SiPH technology and applications.