Gartner says chips are down

Slower consumer spending on electronics will slow semiconductor market growth this year, according to Gartner, reported by IDG News.

The market researcher's prior forecast for 2008 semiconductor revenue growth stood at 3.4% to US$278.4 billion €189.5 billion) the last time it revised its estimate in March. Previously, Gartner had predicted growth of 6.2%.

The market researcher fears that the tight credit on housing markets in the West and high energy prices will hurt consumers worldwide, leading to slower spending on electronics gear.

Even emerging markets such as China, India, Russia and South America, which have buoyed PC and mobile phone sales this year, will slow.

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