Market researcher International Data Corp. said worldwide semiconductor revenue rose more than 3.7% in 2011 to $301 billion, but missed the firm's prior guidance, due in part to China's slow down in the second half of the year and floods in Thailand.
IDC in July projected a modest rise to $303 billion as persistent high unemployment in the U.S. and fear of high inflation in China, India and Brazil weakened the sector.
But the firm on Monday raised its forecast for 2012 semiconductor revenue growth to between 6% to 7% from its prior 5% growth estimate, saying it expects the current semiconductor cycle to bottom out in the second quarter of 2012 and fab utilization rates will pick up and accelerate in the second half of this year.
IDC said Intel Corp. (INTC) remained the overall market leader with total 2011 semiconductor revenue of $51.8 billion. Samsung Electronics Co. Ltd. (SSNHY, 005930.SE) was the No. 2 vendor overall with semiconductor revenue of $29 billion last year.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283; email@example.com