Etron Technology, Inc. Chairman and CEO Nick Lu, who has just been named as the new chairman of Global Semiconductor Alliance's board of directors, said the memory chip market has stabilized and will steadily continue its rising streak in the fourth quarter.

He cited the fact that local downstream companies have been preparing deliveries for the Christmas season in the West and for the Chinese New Year holiday period in Asia.

Riding on its initial recovery, the semiconductor industry is set to take off in 2011 and 2012, based on strong demand in the cell phone market because of the large-scale broadband infrastructure for WiMAX and LTE that will be built in the next two years, he predicted.

This will help to expand the application of semiconductors from the robust market in consumer electronics, with energy-effective personal computers and notebooks being the center, he added.

Lu has been appointed to serve as chairman of Global Semiconductor Alliance from Dec. 1, 2009 to Dec. 1, 2011.

In a meeting with the press, he said he was highly honored to be selected for the post in the influential group, which will hold its 2010 members conference in Taipei on March 17. CEOs from prominent companies, such as Samsung, Toshiba and Qualcomm, will attend the high-profile meeting in Taipei, he added.

(By Flor Wang)