STMicro Sees Declining Demand for Automotive Chips Next Quarter
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STMicroelectronics NV, the chipmaker that supplies Apple Inc. and Tesla Inc., said that declining demand for semiconductors for automobiles will cause a drop in sales this quarter.
The European company, whose competitors include Texas Instruments Inc. and Infineon Technologies AG, sees second-quarter net revenues falling to about $2 billion compared with $2.2 billion a year earlier, it said in a statement on Wednesday.