The global semiconductor industry is seeing growth despite rough beginnings this year. According to the Semiconductor Industry Association (SIA), worldwide chip sales reached US$22.2 billion in July 2008, up 2.8 per cent sequentially, and an increase of 7.6 per cent on-year.

SIA President George Scalise notes that growing sales of consumer electronics, PCs and mobile phones— collectively accounting for 80 per cent of overall chip demand—have fueled the increase in sales, in addition to LCD TV units, digital set-top boxes and digital still cameras. First half semiconductor sales, meanwhile, was US$127.5 billion, up 5.4 per cent from the US$121 billion sales in the same period last year.