SMIC, China's largest contract chipmaker, said its long-serving CEO has been replaced by another industry veteran, in a move that could pave the way for consolidation in China's
struggling chip sector.

The Semiconductor Industry Association reported that its sales are expected to grow by 10 percent to $242.1 billion in 2010 and by more than 8 percent to $262.3 billion in 2011 in its annual industry forecast.

A California jury ruled on Tuesday that Semiconductor Manufacturing International stole and used trade secrets from rival Taiwan Semiconductor Manufacturing, possibly putting SMIC on the hook for more than $1 billion in damages for TSMC, a lawyer for TSMC said on Tuesday.

Global semiconductor sales continued to improve in the third quarter, according to an industry trade group, though revenue remains below year-ago levels.

Taiwan's TSMC, the world's top contract chip maker, met market expectations as it posted its biggest quarterly net profit in a year, after making more advanced chips for new PCs and other high-tech gadgets.

Samsung Electronics said it aimed to increase its semiconductor revenue by more than 50 percent in three years and was upbeat on the memory market in 2010.

South Korea's Hynix Semiconductor, the world's No. 2 memory chip maker, faces a bright outlook as strong demand and prices boosts a sector recovery, after it reported its first net profit in eight quarters.

Texas Instruments beat earnings forecasts Monday and posted better-than-expected revenue, sending shares higher in afteroon trading.

Advanced Micro lost money in the third quarter, but its stronger-than-expected sales are adding to evidence that consumer spending is fueling a turnaround in the personal computer market.

Japanese chipmaker Elpida Memory said on Wednesday it plans to raise its stake in a Taiwan venture with Powerchip Semiconductor to 71 percent by the year's end in exchange for debt forgiveness.

Intel reported a profit excluding one-time items that was lower than last year but which blew out analysts' expectations.

Investors typically look to small cap stocks as the leaders out of a recession. More nimble than their large-cap counterparts, small cap companies are quicker to adapt during both economic downturns and periods of recovery.

Shares of Texas Instruments climbed in premarket trading Tuesday after the chip maker raised its profit forecast for the quarter, a move seen by analysts as a tentative sign of recovery following a brutal six months for the semiconductor industry.

Chip maker Texas Instruments is raising expectations for its second-quarter profit and revenue.

Worldwide sales of semiconductors will fall 21 percent this year, the Semiconductor Industry Association projected Friday.