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Electronics Production | July 23, 2010

ST Ericsson sales drop

Semiconductor joint venture ST Ericsson's sales fell by 10 percent in the second quarter. However, the company showed a reduced loss.

ST Ericsson loss was $ 139 million US Dollars for the year's second quarter. During the same period last year, the loss was $ 213 million US Dollars. The cost reduction program previously initiated is starting to show effect. Sales were $ 544 million US Dollars compared with $ 666US Dollars during the same period a year ago. The reduction in turnover is explained by a high level of inventory due to decreased sales in certain product categories and the company's difficulty to achieve any breakthrough in the Asian market.
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