The slump in the semiconductor market will last another two years, according to a senior executive in the industry.
Morris Chang, chairman of Taiwan Semiconductor Manufacturing, told 100 executives from the industry that, although the market had of this year, and would continue to do so, he expected most companies to weather it out until the industry grew again, according a report from Bloomberg.
"The IC (integrated circuit) industry is in a state of recession," he said. "Unfortunately the recession is going to continue for a while yet, perhaps even for two more years."
But the recession is not affecting all companies uniformly, Chang said. His company, partly owned by Dutch firm Philips, will make a profit this year and he continued to be optimistic about the market generally.
"When more lives get touched by computers, that?s when the industry and the information processing industry will continue to grow," he said.
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