Samsung Electronics expects the semiconductor industry to grow at a low rate next year as the global economic slowdown cuts into demand, a top executive said on Thursday.

Under an economic slowdown, the visibility of the semiconductor industry is low; the growth rate in 2012 will not be high and technology will be an important factor, Samsung's device solutions head, Oh-hyun Kwon, told reporters at an event in Taipei.

The South Korean firm, along with other tech makers, is struggling with depressed consumer demand amid mounting uncertainty over global economic prospects.

On Wednesday, chip maker Advanced Micro Devices Inc cut its third-quarter revenue and gross margin forecasts.

Responding to market rumors that Samsung Electronics was likely to take full ownership of Samsung Mobile Display (SMD), its joint venture with Samsung SDI, Kwon said he has not heard of such a plan.

SMD is the predominant supplier of booming active-matrix OLED (AMOLED) display used in smartphones, gaming machines and tablets.

Kwon added that the company would actively pursue acquisitions if necessary to boost its technology level.

Samsung has the technology for 3D integrated circuit ready, Kwon said, and will launch related products within 2-3 years when market conditions improves.

(Reporting by Clare Jim; Editing by Jonathan Standing)

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