STMicro incorporates Greater China
What this indicates for STMicroelectronics is a strengthening, and rapidly expanding market in the Greater China Region. “Today, customers in the Asia Pacific region account for close to 50% of STs total sales, with shipments within China responsible for more than50% of the Asia Pacific volume. Looking ahead China is expected to make up one fifth of the global semiconductor market within the next five years.” Source from STMicroelectronics.
The impact of this news for the semiconductor industry as a whole is a much anticipated indication that progress within the industry is on the increase and hopes for continued growth in view of a strengthening market may be finally apparent.
The companies plans for development within this particular global area come with the appointment of the new Corporate Vice President and General Manager Bob Krysiak to take charge of the Greater China expansion and development plan.
“With active support from the parent AsiaPac region and direct involvement of its present General Manager, Jean-Claude Marquet, Bobs new organisation will be tuned to develop the local Chinese market while maintaining our well-established and close relationships with global customers already present in China” Commented Alain Dutheill, Chief Operating Officer of STMicroelectronics.”
With strong presence in the Chinese market already as a consistent leader in semiconductor operations STs plans to capitalise on the potential of this market segment could prove to be just what is required to reinforce the progress of the industry as a whole.
“A long-time leader in the China semiconductor market with a strong integrated presence of manufacturing design, research, sales and marketing operations, the establishment of its Greater China Region is a vital step in strengthening STs success in the worlds fastest growing economic zone.”
Not only will this bring development for ST but also the semiconductor industry could anticipate definite beneficial effects as an outcome and could witness significant growth within the industry.
