ON Semiconductor Reported US$1.3 Billion Revenue, 7% Decline YoY in Q2 2019
"For ON Semi, Communication Segment was the only one that reflected a positive growth. Automotive Segment contributed 32% of total revenue in Q2 2019. During the quarter, ON Semi signed a definitive agreement to acquire, a US$300 million fab unit located at East Fishkill, NY and related assets from GLOBALFOUNDRIES. ON Semi completed its acquisition of Quantenna Communications but ON Semi’s business continues to face weakness in demand. Well-publicized macroeconomic and geopolitical factors, which have impacted the overall semiconductor industry was the main reason for the decline in revenues. However, as per the current booking trends, ON Semi estimates that in upcoming quarters the demand will stabilize." - Satyajit Sinha
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Aug 6, 2019
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