STMicro Sees Significant Sales Declines Persisting Into 2025
- Revenue for the year will come in at the lower end of range
- Company announces a cost-cutting program for manufacturing
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STMicroelectronics NV said revenue for the year will come in at the low end of its forecasted range, and sales declines through the first quarter of 2025 will be worse than usual as the chipmaker’s customers scale back orders.
Sales will come in at about $13.27 billion for 2024, a decrease of 23% from a year earlier, the Franco-Italian chipmaker said in a statement on Thursday. That compares to STMicro’s previous outlook for revenue of $13.2 billion to $13.7 billion.