NXP Semiconductors Chief Executive Officer Kurt Sievers said that China's slumping smartphone market remains far from a rebound but that one major non-Android customer's chip orders are still comparing well with historical trends.
Sievers' comments in an interview with Reuters came a day after the company gave a better-than-expected sales forecast based on a steady recovery in the automotive segment, sending its shares up 4.8 per cent to $221.05 by midday Tuesday. NXP's forecast suggests that Apple's strength may continue. In an interview, Sievers said NXP expects mobile revenue to increase 23 per cent in the current third quarter, up from $284 million in the just-ended second quarter.
"I would still say the build rates are below what they used to be in China. And we also don't see it jumping," he said.
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