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In this paper, we investigated the dependence of device performance and hot carrier lifetime on the channel direction of PMOSFET. ID.sat vs. IOff characteristic of PMOSFET with <100> channel direction is greater than that with <110> channel direction because carrier mobility of <100> channel direction is greater than that of <110> channel direction. However, hot carrier lifetime for <110> channel direction is much lower than that with <110> channel due to the greater impact ionization rate in the <100> channel direction. Therefore, concurrent consideration of reliability characteristics and device performance is necessary for channel strain engineering of MOSFETs.