This table shows the Y/Y change in Q1 IAB sales by region on a local currency basis.
While overall manufacturing capex shrank globally as a result of COVID-19, Greater China and South Korea, which were the earliest regions to recover from the outbreak, reported strong sales growth, reflecting rising Digital industry demand.
Greater China sales increased 22% Y/Y, on the back of investments pushed out from Q4 into Q1 and the resumption of economic activity. On a sequential basis, Q1 sales grew a hefty 64% Q/Q.
South Korea sales increased 31% Y/Y, on the back of demand to frontload semiconductor capex related to 5G. Sequentially, Q1 sales grew 27% Q/Q.
In Q1, these 2 regions were able to offset the declines in other regions, supporting overall IAB segment sales.
Next, let us look at operating income by segment. Please turn to slide 8.