LONDON Ė Freescale Semiconductor Inc. has lowered its financial guidance for the third quarter of 2011 ending Sept. 30.
Freescale (Austin, Texas) now sees a net sequential decline of between 6 and 8 percent for the third quarter. This compares to previous guidance of flat to 3 percent decline sequentially. Freescale had sales of $1.22 billion in the second quarter.
As the third quarter is normally the boom season in the semiconductor sector such a decline is unusual. Freescale attributed the sales decline to weakness in the company's industrial and networking businesses.
I think that's a simplified view for a company (Freescale) that has a low revenue reliance upon Motorola. In fact, in the related links below this article, there are at least 5 links for general market sales softening, including IDM, fabless, and foundry.
Freescale ... what can I say, sold out to investors, all execs took off with their cash, massive layoffs, outsource everything, and not a leading technology company including dated designs and look at me parts. For sure invest else where and close attention to due diligence in terms of who you are buying from when it comes to component selection and Freescale powerpoint promises.