Samsung sees low growth rate for chip industry in 2012

Reuters News
Posted: Sep 28, 2011 11:48 PM

TAIPEI (Reuters) - Samsung Electronics sees a low growth rate for the semiconductor industry next year as the global economic slowdown bites into demand, a top executive said on Thursday.

"Under an economic slowdown, the visibility of the semiconductor industry is low; the growth rate in 2012 will not be high and technology will be an important factor," Samsung's device solutions head Oh-hyun Kwon told reporters at an event in Taipei.

The South Korean firm, along with other tech makers, is struggling with depressed consumer demand amid mounting uncertainty over global economic prospects.

On Wednesday chip maker Advanced Micro Devices Inc cut its third-quarter revenue and gross margin forecasts.

(Reporting by Clare Jim; Editing by Jonathan Standing)