STMicroelectronics to exit STB market

Wednesday 27 January 2016 | 09:16 CET | News
STMicroelectronics announced plans to exit the market for chips used in set-top boxes and home gateways. The company said the slower-than-expected market adoption of leading-edge products and increasing competition on low-end boxes, combined with the required high level of R&D investment, has led the business to generate significant losses in recent years. The decision to exit the business will lead to around 600 employees redeployed to different activities, principally ST's target growth areas of digital automotive and microcontrollers, and a voluntary redundancy plan for around 1,400

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Categories: Broadcast & Satellite / Mobile & Wireless
Companies: STMicroelectronics
Countries: World
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