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© mpanch dreamstime.com Electronics Production | December 14, 2012

Freescale CEO comment on the market

The economic instability around the world has taken its toll on the chip market. Due to this uncertainty Gregg Lowe, CEO of Freescale Semiconductor Ltd, has planed to reallocate R&D resources on core businesses, which is likely to show gains in market share in 2015.
Freeslace has some tough years behind them, losing market shares for nine of the past 10 years. The restructuring plan that Gregg Lowe has initiated is expected to reverse this.

If global chip revenue falls year over year in Q4, it would be the sixth quarter of year-on-year declines in a row, Lowe told Reauters.

"History would say that if you've got something that's declined for so long, it would probably go up - but there's no evidence for that," Lowe said. "If the market rebounds that's great, but it's not something anyone can point to or forecast at this point.", said Lowe to Reuters.

5% of Freescale's workforce was laid-off during this years restructure. However, the company plans to hire roughly the same number of new employees in 2013, mainly in China, where over 500 technical employees is stationed, the report continues.

"What we're expanding now is our sales footprint (in China), opening 10 new sales offices, almost 100 sales people, to get more feet on the street," said Lowe to Reuters.

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