STMicroelectronics says its Q1 revenues were $1.7billion, 6.8% less than in Q4 2014 and a similar amount behind revenues in Q1 2014, leading to a loss of $22million.
Carlo Bozotti, pictured, the company's president and CEO, said: "During the quarter, we saw ST products enabling more and more of the Internet of Things, as well as some of the latest flagship mobile and wearable devices: our AMOLED drivers, touchscreen controllers, pressure sensors, six axis motion MEMS, high performance microphones and STM32 MCUs ramped production or were designed in with global brands in exciting, new devices. The many new industry leading products we introduced during 2014 are steadily increasing our footprint with customers and starting to bring results."
Sales of microcontroller, memory, and secure MCUs provided some encouragement for the company, with a year on year revenue growth of 8%. However, sales of sense and power and automotive products decreased by 6% compared to Q1 2014, something ascribed by ST to lower sales of analogue and mixed signal products. Revenues from the embedded processing solutions business unit decreased by 7.4% over Q1 2014 and by 12% on a sequential basis.
Bozotti noted: "In the second quarter, we expect to increase our revenues by about 3.5% sequentially, with most of our product groups contributing."
