STMicroelectronics Named Top Supplier of Automotive Semiconductors to China
Geneva - STMicroelectronics (NYSE: STM) has been recognized as China’s number one automotive semiconductor supplier by the independent industry analyst iSuppli Corporation. According to the iSuppli report, ST captured a 15.7% share of the market and moved into first place among suppliers of automotive semiconductors.
China’s automotive electronic systems are developing rapidly and iSuppli predicts that their production will double, reaching $18.4 billion in 2011. During the same period, the automotive semiconductors that supply these systems are also forecast to nearly double their 2006 volume to reach $2.8 billion in 2011.
The greatest increase in volume in 2006 was driven by the automotive entertainment (video and audio) sector. iSuppli expects that the cumulative total addressable market (TAM) between 2006-2011 for automotive entertainment systems will reach $7.38 billion, while the cumulative TAM for other electronic systems will reach $5.87 billion.
“Entertainment semiconductors have been driving most of China’s automotive semiconductor revenues for the past five years, while Power Train and Body applications are expected to see the same tremendous growth in the coming years,” said Bruce Liu, Director of Greater China’s Automotive Segment at STMicroelectronics. “ST is committed to maintaining its strong position in all major applications from Power Train, Car Body, and Safety to Entertainment and Digital Broadcasting. Leveraging its strength in automotive electronics, ST has been extremely successful in this fast-growing and important market segment in China.”
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