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STMicroelectronics CEO: Chip Market Will Lead PC, Networking Recovery: Page 3 of 3

That has led to a market recovery in PC sales, while the recovery of the networking market is expected around mid-2004, he predicted. The recovery of consumer products already started two years ago, he added.

"In 2003, we already saw the beginning of renewal in the wireless business," said Pistorio. This year "will be 'wireless and plus,' while 2005 will see the wireless infrastructure and wireline business coming back."