ON Semiconductor revised downwards its first-quarter 2020 revenue outlook. This update incorporates the potential impact of change in business conditions due to the novel coronavirus. Based on preliminary assessment of the existing business environment, the company anticipates that its revenue for Q1 will be range from USD 1.275 billion to USD 1.325 billion, as compared to its earlier guidance of USD 1.355-1.405 billion, issued on 3 February.
The company said it saw soft order trends in China in the weeks following Lunar New Year holidays, but orders have since picked up, and it has not seen any significant cancellations of orders.
Furthermore, its factories in China returned to normal levels of operations after a mandatory shutdown following the end of Lunar New Year holidays.
