STMicroelectronics NV (ADR) (NYSE:STM) CEO Carlo Bozotti expressed confidence in prospects for his company in an interview on CNBC.
The CEO was asked what people can expect going forward for STMicroelectronics NV (ADR) (NYSE:STM) which manufactures its own designs of semiconductor products which are integrated into various other products like computers, telecommunications systems, automotive products and more.
According to Bozzoti, the company sees strong indicators going forward in the industrial space. He explained:
“I think we see good traction on very much across the board. In terms of application market, clearly automotive is strong, but also the more fragmented industrial market is also pretty strong. We serve this market through our distribution channels and we have good growth there with, I would say, the situation of inventory which is very healthy. We have specific customer by customer situation when we enter in other fields like wireless, but in general we see good traction in China on the smartphone business.”
The STMicroelectronics NV (ADR) (NYSE:STM) CEO then went on to express how he sees great developments for his company in the consumer side. Furthermore, he said that the company is now back in the black. He explained:
“Concluding with [the]consumer market, I would say that the trend in the TV area for us is important not because we are in the TV business, but for our set top box business, is really to move to the 4K screens and displays. This is important for us because all our products in the set top box is in this new technology. Overall, a good trend. I think we are back to black now and we want to move from there.”
Watch the video where the STMicroelectronics NV (ADR) (NYSE:STM) CEO also discussed Apple Inc. (NASDAQ:AAPL) and Samsung Electronics Co. Ltd. and the smartphone industry.