The panelists were quick to congratulate themselves on having responded quickly to the external crisis but Bozotti did point the finger of blame towards the bankers saying that there is now a greater tendancy towards the formation of bubbles in various sectors due to a "lack of good governance in the global financial world."
Although the panelists talked about quick reactions made by chip companies, none made anything but passing reference to the fact that this meant job losses inflicted in 2008 and 2009. The moderator, free-lance journalist Kilian Reichert, was unable to find a question that would expose differences of opinion amongst the panelists or prevent what came close to being an exercise in self-congratulation.
Clemmer said that while the first three quarters of 2010 had seen extreme annual growth in comparison with a very low 2009 the fourth quarter was like to show a normal seasonal sequential decline. And Bozotti said that 2011 would see the semiconductor industry return to normal and grow between 5 and 10 percent.
Bozotti pointed out that the drivers for the semiconductor industry have changed. Information technology and the internet – while still being rolled out across the globe and being upgraded – is being replaced by energy conservation, accessible and affordable healthcare and data security as top issues.
However, the new demand and a lack of investment in manufacturing capacity over the previous two years is producing long lead times. Bauer, although presiding over a chip manufacturer that is going fab-lite, revealed some frustration as he said: "The silicon foundries have underinvested massively. Now we are chasing parts."