San Jose, CA (AHN) - World demand for semiconductors rose 1.5 percent in February, according to the Semiconductor Industry Association. The growth was led by Asia, which experienced growing sales of chips compared to slowing demand in North America.

Japan led growth in Asia, posting an 8 percent increase in chip sales. China also saw semiconductor sales rise 1.2 percent in February. However, chip sales in the Americas dropped 3.5 percent. In Europe, semiconductor demand was off slightly, fall 0.1 percent, according to the trade group.

Overall, 12 percent more semiconductors were shipped in February, compared to a year ago and global sales reached $20 billion in the month.

Prices for memory chips, used in a variety of electronics, continued a free-fall. Although the number of chips shipped grew by 43 percent, sales prices fell 40 percent. The average price of memory chips has fallen by almost 60 percent, according to the organization.

The U.S. housing downturn and economic tightening was also evident in semiconductor demand. The Asia-Pacific area is now the largest world market for PCs and Eastern Europe, Africa and South America is expected to overtake the U.S. as the largest seller of PCs.