Chartered CEO said that this year the chip industry growth rate lower than expected

According to foreign reports, Singapore said the chipmaker chartered day before, due to excess inventory of semiconductor products, some consumers have cut product orders, so the global semiconductor industry in 2006 the growth rate may be lower than expected.

"Semiconductor industry has been growing in the first half of this year," said Chia Song, chief executive officer of Hwee, chartered in an interview with Reuters. "However, the growth rate is likely to decline over the years. This year, however, will still be a year of growth, but it may not be as good as it was at the beginning of the year."

The company also said that due to weak demand for video games and mobile phone market offset the benefits of strong demand for personal computers. In the quarter ended June, the company's net profit was $12 million 300 thousand. Including convertible redeemable preferred stock redemption value, Chartered Semiconductor's earnings of $9 million 970 thousand, lower than the average analyst expectations.