STMicroelectronics Reports 2008 Third Quarter and Nine-Month Revenues and Earnings (Revenue up 11%)

 

This outlook is based on an assumed effective currency exchange rate of approximately $1.40 = euro 1.00 for the 2008 fourth quarter, which reflects current exchange rate levels combined with the impact of existing hedging contracts. Additionally, this outlook includes the results of the ST-NXP Wireless joint venture for the full quarter, which began operations on August 2, 2008 but excludes an estimated $30 million cost in fourth quarter 2008 due to inventory step-up purchase accounting adjustment related to the former NXP Wireless business.

 

Recent Corporate Developments

 

    --  On July 28, 2008, ST and NXP announced the closing of the deal bringing
        together key wireless operations of both companies into ST-NXP Wireless,
        a deal they announced on April 10, 2008. The joint venture, 80% owned by
        ST,  started operations on August 2, 2008 and launched as a solid
        top-three industry player with a complete wireless product and
        technology portfolio and as a leading supplier to major handset
        manufacturers who together ship more than 80% of all handsets. ST-NXP
        Wireless will be among the few companies with the R&D scale and
        expertise to meet customer needs in 2G, 2.5G, 3G, multimedia,
        connectivity and all future wireless technologies.

 

 

    --  On August 20, 2008, ST and Ericsson announced an agreement to merge
        Ericsson Mobile Platforms and ST-NXP Wireless into a joint venture. The
        50/50 joint venture would have the industry's strongest product offering
        in semiconductors and platforms for mobile applications and will be an
        important supplier to Nokia, Samsung, Sony Ericsson, LG and Sharp. The
        fabless joint venture would employ almost 8,000 people with pro-forma
        2007 sales of $3.6 billion. ST is expected to exercise its option to buy
        NXP's 20 percent of ST-NXP Wireless before the closing of this
        transaction.

 

 

Q3 2008 Products, Technology and Design Wins

 

Automotive, Consumer, Computer and Telecom Infrastructure (ACCI) Product Highlights

 

    --  In digital consumer, ST announced the sampling of the STi7105
        high-definition (HD) video decoder, with enhancements for higher
        performance, lower power, and lower bill-of-materials costs in set-top
        boxes (STBs) and home media servers. ST also bolstered its leadership in
        DVB-S2 digital satellite broadcast with a new 'front-end' STB chipset
        for digital satellite HDTV equipment. The use of DVB-S2 by consumer
        equipment manufacturers is increasing rapidly in a wide range of
        applications, including Pay-TV and free-to-air STBs, integrated digital
        TVs (iDTVs), PC TV cards and HD Blu-ray Disc equipment.

 

 

    --  Also in STBs, ST announced that Proview will use the STi7101 HDTV
        decoder in its new XPS-1000 set-top box, which employs the SBTVD digital
        terrestrial standard, for deployment in Brazil. Additionally, ST started
        production for two new IPTV STB designs in France and a new
        standard-definition H.264 satellite STB for deployment in India.

 

 

    --  In consumer audio, ST gained two design wins in Korea for its
        SoundTerminal family of high-efficiency power ICs that integrate DSP
        capabilities for flat-panel TV applications. The device is the latest in
        the SoundTerminal family and integrates standard features along with the
        industry-first inclusion of a dual-band dynamic-range compressor for
        Hi-Fi audio and thin-TV loudspeaker protection.

 

 

    --  In communications infrastructure applications, ST gained two design wins
        for ASICs that will be used by a world-leading manufacturer in its
        enterprise switching products. In computer applications, ST gained an
        important design-win for a 65nm SoC for a second-generation enterprise
        hard disk drive (HDD) from a major HDD maker. ST also won a socket in
        the data-security environment from a leading manufacturer, based on the
        Company's high-security solution for HDDs that meets the FIPS 140-2
        level 3 standard. In addition, ST successfully demonstrated at IDF the
        world's first MIPHY (Multi Interface PHY) Physical Layer interface for
        the new 6Gbit/s Serial ATA (SATA) technology.

 

 

    --  In automotive powertrain and safety applications, ST gained a design win
        from a major Japanese player for an alternator platform. The first
        application will be in Europe with other car makers expected to use it
        in Q4 2008. ST also made strong gains in low- and mid-end powertrain
        applications, supplying smart power ICs and microcontrollers (MCUs) to a
        major Asian car maker for 1- and 2-cylinder vehicles for emerging Asian
        markets, and to a major European car maker for 4-cylinder vehicles for
        the Russian market.

 

 

    --  In car-body applications, ST achieved a very important design win from a
        key European tier-one supplier for smart-power products in power
        management and external light control. Additionally, ST's market
        introduction of next-generation 8- and 32-bit MCUs has led to numerous
        design wins in many countries.

 

 

    --  In car multimedia, ST gained a couple of key design wins for car-radio
        kits. For the first, a leading European OEM chose an ST MCU, tuner IC,
        audio processor and power amp, for a new after-market radio which has
        been chosen by a car maker in China; the second kit was selected by a US
        maker and includes audio processor and power amp, tuner IC and CD/MP3
        decoder chip. Additionally, a leading automotive OEM in Europe selected
        ST's STA2500D Bluetooth IC for use in Telematic platforms for two
        leading car makers.

 

 

Industrial and Multi-Segment (IMS) Product Highlights

 

    --  In microcontrollers, ST extended its library of functions supporting
        vector control of electric motors using the 32-bit Cortex-M3 based STM32
          MCU,  which  has  already  been  designed  into  approximately  40  customer
                motor-control  applications.
 

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