Survey: Singapore IC firms see recovery underway
Keywords:industry outlook? Singapore IC industry? semiconductor recovery?
Ulf Schneider, president of MIDAS, said that most of the association members, comprising of companies in the semiconductor industry, are cautiously hopeful about the industry's outlook this year.
"Members of the semiconductor community are seeing signs of improvements following declines the last three quarters after the financial crisis. Our members have pointed to the Singapore government's impact on the industry to accelerate the recovery," Schneider said.
While polled MIDAS members recognized the positive impacts of Singapore government initiatives on the industry, member companies point to Singapore's incomplete electronics ecosystem, insufficient engineering talent and high costs as hindering its recovery.
Gartner has estimated that the current financial crisis will remove more than $25 billion from the semiconductor market in 2009.
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