The world‘s semiconductor industry is continuing its record-breaking boom as it has recorded quarterly sales of more than $100 billion for the first time in the third quarter of this year, according to industry reports.

In its latest summary on worldwide semiconductor sales, the Semiconductor Industry Association reported third quarter chip sales totaled $107.9 billion, marking the industry’s highest-ever quarterly sales. The sales number also represent an increase of 10.2 percent compared to the previous quarter.

Sales reported for September alone were $36 billion, an increase of 22.2 percent compared to the same month the previous year when it totaled $29.4 billion. September’s sales figure was also 2.8 percent higher than August of this year. 

“Global semiconductor sales increased sharply year-to-year in September, and year-to-date sales through September are more than 20 percent higher than at the same point last year,” John Neuffer, SIA president and CEO, said in a press release. “The industry posted its highest-ever quarterly sales in Q3, and the global market is poised to reach its highest-ever annual revenue in 2017.”

“Standouts among semiconductor product categories included memory products like DRAM and NAND flash, both of which posted major year-to-year growth in September,” Neuffer added.

Aside from this year’s third quarter record-breaking success, overall global sales of memory chips are also expected to churn out a record high fourth quarter sales figures. 

According to local investment and securities researchers on Wednesday, operating profits for Samsung Electronics are expected to continue to rise in the fourth quarter on the back of strong semiconductor exports.

Samsung Electronics announced earlier this week that its third-quarter net profit more than doubled on-year from 4.53 trillion won last year to 11.1 trillion won, thanks to growing global demand for semiconductors.

Industry tracker IC Insights also projected that the DRAM market will grow by 74 percent this year, the largest since the 78 percent growth posted in 1994, while NAND flash market sales are being estimated to grow by 44 percent. 

By Julie Jackson (juliejackson@heraldcorp.com)