The director of Samsung Electronics solutions, Kwon Hyun (KwonOh-hyun) has said: "In the context of economic slowdown, prospect for the semiconductor industry is very fuzzy,it is estimated growth rate in 2012 is not too high, and technology will be one crucial factor. " The executives of semiconductor industry recently said, business inventories are declining,the semiconductor industry will usher the first ray of dawn.As the economic is downturn, consumer demand for electronic products in Europe is relatively weak, resulting in the semiconductor industry slump.In Morgan Stanley Technology, Media and Telecom Conference held in Barcelona, Spain, the British chip designer ,ARMCEO Warren Eastbourne (WarrenEast) said on Thursday that the inventory of many ARM licensees are much better than the previous quarter .With similarly optimistic sentiments ,the French chip maker ,STMicroelectronicsCEO Kaluo Bo Zotti (CarloBozotti), he told investors that the company expects in second-quarter in 2012 sales could reach normal levels.According to the global technology research and advisory firm Gartner survey, negative impact from inventory on the semiconductor industry will continue at least until the end, however, demand growth will occur in 2012. U.S. supplier of microcontroller and analog semiconductors, Microchip announced earlier this month, said fourth quarter of 2011 will be the bottom of the industry cycle.The industry believes that consumer demand for smart phones will help the semiconductor industry to achieve recovery.Eastbourne said he expects there will be significant growth in smart phones in 2012, but also admitted that the semiconductor industry's recovery will be affected by the economic situation.President,Tudor Brown (TudorBrown) said in Taipei he expects the semiconductor industry in 2012 will achieve single-digit growth.It is said the economic downturn in the semiconductor industry will continue to affect the prospects of 2012, the industry's strong growth is expected to be appeared in 2013.