ST expects MEMS growth in Q3, but cuts 2012 capex

July 25, 2012 — In reporting its Q2 and H1 2012 results, STMicroelectronics (ST, NYSE:STM) said it will reduce its 2012 capital expenditures (capex) plan by about 25%, down to $500 million to $600 million.

ST said the “global economic environment has weakened” through the end of Q2, but expects new product momentum, particularly in micro electro mechanical systems (MEMS), microcontrollers, and power MOSFETs & IGBTs, to drive sequential growth, said Carlo Bozotti, president and CEO.

Q2 results were sequentially higher for ST, although the company said it is managing expenditures and assets, looking for market share gains, and reforming ST-Ericsson in the near future to maintain positive operations through a weak market.

Get all the numbers from ST’s Q2 and H1 2012 report here.

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