NXP forecast hints Apple might keep bucking China smartphone slump

- NXP Semiconductors Chief Executive Officer Kurt Sievers said that China's slumping smartphone market remains far from a rebound but that one major non-Android customer's chip orders are still comparing well with historical trends.

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. 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.

"I would still say the build rates are below what they used to be in China. And we also don't see it jumping," he said.

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