After Nokia, STMicro Bets on European Factories

Gerard Matheron could write volumes about how STMicroelectronics NV suffered as orders from its largest customer plunged. Instead, the chief of its biggest European factory has squeezed years of pain into a short slogan hanging over his desk: “Falling down to bounce back stronger.”

The Geneva-based semiconductor maker reported eight unprofitable quarters and $1.6 billion in losses as orders from one-time mobile-phone king Nokia Oyj plunged after it lost market share to the iPhone.