Semiconductor firm Cirtek forecasts 25% growth in 2013

Laguna-based semiconductor manufacturer Cirtek Holdings Philippines Corp. is targeting a 25-percent growth in bottomline and topline in 2013.

According to the company, demand for wireless application, computer peripherals and LED consumer electronics is expected to rise.

In terms of product category, spending will go towards handsets, smart phones, tables and wireless infrastructure.    

Cirtek also forecasts a 10-percent profit increase in the first quarter, with sales expected to grow 10 percent to $10 million. Sales and profit contribution from acquisitions and major supply agreements will come on stream in the second or third quarter, the company added.

Philippine electronics companies are more optimistic for 2013 after a “flat” 2012, with the  Semiconductor and Electronics Industries in the Philippines (SEIPI) projecting 5 percent to 6 percent growth for electronics and semiconductor exports this year.

Electronics comprise about half of the Philippines' total exports, with semiconductors being among the top electronics products shipped by the country.

According to an earlier Reuters report, the Philippines, which imports electronic parts and inputs for assembly for export later, provides about 10 percent of the world's semiconductor manufacturing services, including for mobile phone chips and micro processors.

The global semiconductor industry reached $290 billion in worldwide sales in 2012 and is forecast to grow 4.5 percent to $303 billion this year and then 5.2 percent to $319 billion in 2014. — BM, GMA News