STMicro, whose controlling shareholders are France and Germany, is able to shift manufacturing from China to countries like Malaysia and Morocco, if the trade relationship between China and the United States deteriorates further, Chery said. "We're going to move from a totally open global economy to an economy that will be more siloed, with regional strategic interests that will come before that of companies," he said.
Franco-Italian chipmaker STMicroelectronics would still reach its mid-term revenue target in the event of a ban of Huawei telecoms components in Europe, its chief executive said after the group published better-than-expected earnings on growing demand for its next-generation products.
Debates are raging in France, Germany and Britain as to whether to grant China's Huawei, one of STMicro's top 10 clients globally, the right to sell its telecoms equipment for use in 5G mobile Internet infrastructure, following calls by U.S. authorities for a complete ban over fears China could use the equipment for spying.
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