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ST CEO, Carlo Bozotti
ST COO Jean-Marc Chery said that ST is “exploring options” for the division, adding: “Business as usual is no longer an option.”
ST’s shares jumped 6% on the news.
ST’s Digital Product Group (DPG) saw Q1 revenues fall 27% y-o-y to $207 million which represents about 12% of ST’s total revenues for a loss of $64 million..
ST management blamed STE-related legacy sales and declining sales of image sensors and low-end set-top IC sales.
The financial community have argued for some years that ST’s revenues, and more particularly its margins, are not sufficient for it to support leading edge digital process capability.
Recently ST’s CEO said ST would not continue digital process development beyond 14nm.
The problem with ST is Carlo Bozotti. He is only good at speaking/hypnotizing ST stockholder. Bozotti speaks, ST’s shares jumped.
Since he get the seat of Pistorio, Bozotti never creates value. He distributes the ST cash to stockholders to buy is place and also continue to puts money in is pockets.
I invite stockholders to look behind Bozotti speech, before they lose everything because ST will value nothing if nothing change.