Chip sale forecast cut by half

Research firm iSuppli slashed its global chip sales growth forecast for 2008 by nearly half over fears the US economic downturn will stifle consumers' appetite for electronic goods, an InfoWorld Daily report said.

The California-based market research company lowered its chip industry sales growth forecast to just 4% this year, down from its previous estimate of 7.5%.Global chip sales will total €177 billion (US$279.6 billion) this year, up from €170 billion (US$268.9 billion) last year, iSuppli said.

Sales of electronic equipment, including computers, industrial equipment, automotive gear, and wired and wireless communications will fall this year, according to iSuppli, because of the economic downturn in the US.The company had already cut its 2008 sales growth estimate on electronic equipment sales to 5.9%, from 7% previously.

iSuppli noted that it is already seeing weakness in both wired and wireless telecom sales, including mobile phones.

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