NXP downgrades Q1 estimate as COVID-19 hits demand
India, April 8 -- NXP Semiconductors downgraded its expected figures for the first quarter of 2020, providing an early signal for what lies in store for the mobile supply chain this year.
The semiconductor company is considerably more downbeat than it was only five weeks ago, conceding that the COVID-19 pandemic will have a "worse than anticipated impact" compared to its previous update on March 2.
At that time, NXP said it expected Q1 revenue to be around 3.3% lower on a quarterly basis, at $2.22 billion. This has subsequently been revised down to a quarterly drop of 12.2% to just over $2 billion. Year-on-year, the company is now forecasting a 3.5% revenue drop, compared to its earlier estimate of 6.3% revenue growth.
The company warn...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.