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SMALL BUSINESS
Global chip sales improve, still below '08 levels
AP
SAN JOSE, Calif. -Global semiconductor sales continued to improve in the third quarter, according to an industry trade group, though revenue remains below year-ago levels.
Revenue for the three months ended in September totaled $61.9 billion, the Semiconductor Industry Association said Monday. That's up 20 percent from the second quarter but still down 10 percent from the same quarter a year ago.
The trade group said demand for personal computers and cell phones is driving uptick as electronics makers stock up on parts ahead of the holiday season and that sales are "running well ahead of the worst-case scenarios projected early in the year."
Those projections came amid the worst year for the chip industry since the dot-com bust of 2001, as the deepening recession forced manufacturers to slash semiconductor inventories.
With the economy showing signs of improvement, "semiconductor sales continue to reflect normal seasonal patterns," SIA President George Scalise said in a statement.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-02 08:03:27
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