STMicro more than doubles Q4 profits

Q1 slowdown expected

STMicroelectronics said Q4 profits more than doubled thanks to demand from mobile phone makers. Net profit for the quarter rose to $462 million, up from $184 million for the period a year earlier.

Sales rose 48 per cent to $2.19 billion but the company expects an eight per cent drop in the first quarter due to slowing demand. ®

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