Estimates of the PC industry show annual spending is set to decline for the first time.
Alcatel has announced it is cutting another 10,000 jobs (9% of its work force).
Unisys has just disclosed plans to cut 3000 jobs as it reported that its earnings slumped 50% in the last quarter.
The Australian Electrical and Electronic Manufacturers' Association annual excellence awards presentation, will be held next week, Wednesday 24 October, in Sydney's Australian Technology Park.
The Asia Pacific IT industry, and consequently electronics industry, is expected to register lower revenues due to the global economic downturn and terrorist attacks, with Australia expected to be one of the most affected countries.
Ericsson's head of research, Hakan Eriksson, has said that the company is maintaining its current research and development budget and is already planning for 4G phones which are expected to be introduced in Japan in 2010.
A rationalisation of Alcatel's submarine cable making operations has seen the loss of 320 jobs in Australia, as its Port Botany plant in Sydney is placed in neutral.
Exports of locally designed ADSLs by NEC Australia have gone over the one million mark.
India's largest IT company, Wipro, plans to launch operations in Australia.
NEC has told the federal government that a greater focus on commercialising Australian communications research and development is required to get multinationals to invest here.
The semiconductor market will grow 23% in 2002 to $374 billion, buoyed by this year's inventory cutting and renewed consumer demand, according to US technology market forecaster, Semico Research.
Manufacturers are turning to the domestic market to maintain output, given the local economic climate compared to that of Australia's major export destinations. The Australian Industry Group's latest Performance of Manufacturing Index showed strengthening activity through 2001, and with the recent cut in interest rates stimulating demand and encouraging investment, the domestic outlook is increasingly positive.
Mayer Krieg and REC Electronics have merged and will trade under the name of Mayer Krieg. The merger creates a components and subsystems vendor valued at over $50 million. However, in the merger 10% of the workforce will lose their jobs.
Protel International has been renamed Altium Limited. As of August, all corporate, sales, support and promotional activities will take place under the Altium name, and all operating subsidiaries will also be renamed.
Elpida Memory have chosen Hitachi Australia to distribute their products in Australia and New Zealand.