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News in brief: Veeco, RFMD, Bookham etc

Veeco Applied Epi has changed its name, RFMD’s David Norbury is to retire, Bookham has completed its acquisition of Nortel’s optical components unit and Gartner Dataquest is predicting double-digit growth for the global semiconductor industry in 2003
Veeco Applied Epi changes its name

MBE system manufacturer Veeco Applied Epi has dropped its Applied Epi tag and is now trading as Veeco. Applied Epi merged with Veeco Instruments in September 2001.

RFMD appoints a new CEO

RF Micro Devices’ president, Robert Bruggeworth, is to become the company’s CEO when current CEO David Norbury retires in January. Bruggeworth will also join the company’s board in January. Norbury will continue to serve on RFMD’s board after his retirement.

Bookham completes its latest acquisition

The acquisition by Bookham Technology of Nortel Network’s optical components unit has been completed. All of the conditions for completion have been met and the 61 million ordinary shares of Bookham transferred to Nortel as part of the deal have been admitted to the London Stock Exchange.

Replacement PCs and cell phones to boost semiconductor market

Gartner Dataquest is predicting that the global semiconductor market will grow by 12% in 2003 with revenue reaching $171.8 billion. Figures for 2001 showed a 32% decline in revenue to $152.5 billion compared to 2000. Stagnant demand means that 2002 is likely to show only a 0.5% rise in revenue over 2001.

The expected pick up demand in 2003 will be driven by semiconductors for replacement cellular handsets as users upgrade to the latest 2.5G models with color displays, cameras and picture messaging.

A second major driver will be replacement PCs. Corporate users have extended the lifecycle of PCs as they cut costs during the economic slowdown. Gartner analysts say that a corporate PC replacement cycle is now long overdue.

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