Advanced Micro Devices has declined a renewal of fabrication agreements with Semindia following a three-year manufacturing agreement. The India-based chip manufacturer claims other potential customers are inline for negotiations, but the current downtown in the semiconductor industry has forced many corporations into a "wait-and-watch" scenario for new chip production contracts.

Bob Kondamoori, MD of Sandalwood Partners, an investor in Semindia, told the Financial Chronical, many companies were "in a wait-and-watch mode because of the economic situation and downturn in semiconductor industry. Many of them are themselves looking to sell their fabs."

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