The global semiconductor market is likely to shrink by an annual 2.2 percent in 2009, industry group World Semiconductor Trade Statistics said on Tuesday, reversing its May forecast of 5.8 percent growth.

Chip sales will grow an annual 2.5 percent in 2008, down from a previous outlook of 4.7 percent, said the WSTS, whose 70 member companies represent close to 80 percent of the global chip market.

Source:Reuters