By Vangie Beal
May 28, 2002
(Reuters) - Global demand for semiconductors is expected to edge up 2.3 percent in 2002, rebounding lightly after last year's worst-ever 32.0 percent drop, World Semiconductor Trade Statistics Inc, an industry group, said on Tuesday. The organization also forecast that the market for dynamic random access memory (DRAM) chips, a key product used in computers, would bounce 44.3 percent this year after last year's devastating 61.3 percent plunge. The global chip industry was battered by last year's information technology slump, which saw a retreat in demand for traditionally high-growth products such as personal computers and cell phones. The industry's woes were compounded by high inventories built up during the IT boom.