Semiconductor market to grow 20% says Infineon chief

The world's forth largest computer chip maker Infineon expects the global market for semiconductors to grow 20% this year, up from previous forecast of 18%.

Speaking at the company's agm today, Infineon Chairman Ulrich Schumacher said most of that growth will come from the market for chips for the telecommunications industry, while the market for chips for cars will also expand.

"The market research institutes and all the experts agree that 2004 will see continued growth in the semiconductor market. We expect around 20 % (growth) in market volume worldwide, with the largest single engine of growth being the communications industry," he said.