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Semiconductor revenue on the rise

The worldwide semiconductor market will grow revenue by 8.9 percent in 2003, according to a new report by Gartner. The firm says that worldwide semiconductor revenue will total $167 billion in 2003, up from 2002's $153.4 billion.

So far cellular phones have been behind most of the growth in semiconductor revenue. But Gartner predicts that a recovery in PC buying during 2003 could boost the semiconductor market. Some signs indicate that businesses are beginning to replace some of their aging PCs, the firm said in its report, but it still remains to be seen whether or not this will translate into an increase in PC buying during the latter half of 2003.