Wednesday, July 21, 2010

ST-Ericsson Posts Revenue of $544 Million, Down 10% Sequentially

ST-Ericsson reported Q2 2010 net revenues of $544 million, down 10% sequentially from $606 million in Q1 2010 and down from $666 million a year ago.

"Our sales in the quarter continued to reflect the impact of our ongoing portfolio transition, combined with weaker-than-expected performance in Asia and some supply limitations. We are, however, encouraged by the progress made by the new portfolio with our customers. Our smartphone platform family has achieved design wins for multiple models with four customers, and we continue to see good traction for our high-value entry and modem portfolio," stated President and CEO, Gilles Delfassy.

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