Sievers’ comments in an interview with Reuters came a day after the company gave a better-than-expected sales forecast based on a steady recovery in the automotive segment, sending its shares up 4.8% to $221.05 by midday Tuesday.
China’s smartphone market has suffered as the country’s growth has slowed, with Counterpoint Research reporting that sales declined 8% for the early June “618” shopping season in the country. But Apple has resisted the trend, with sales rising 8% during the shopping period, Counterpoint said.
NXP’s forecast suggests that Apple’s strength may continue. In an interview, Sievers said NXP expects mobile revenue to increase 23% in the current third quarter, up from $284 million in the just-ended second quarter.
While the Android portion of those mobile chip orders is growing slightly, Sievers said there is no rebound in sight…
Sievers said most of the 23% increase forecast for mobile chip sales is attributable to a large customer that NXP cannot name. Most analysts believe that company is Apple.