NXP’s disappointing expectations for Q4 are primarily due to the downturn in electric vehicle sales in Europe and the US, significantly impacting chip demand.
Despite remaining profitable, NXP’s third-quarter sales declined 5.4 percent to $3.26 billion, below expectations, projecting further revenue struggles in Q4.
Consumers are increasingly opting for Chinese electric cars, which exacerbates the challenges facing the European and American automotive industries, affecting chip manufacturers.
NXP anticipates Q4 revenue between $3 and $3.2 billion, lower than analysts' projections, indicating ongoing struggles caused by industry-wide market declines.
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