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French semiconductor materials supplier Soitec on Tuesday withdrew forecast targets for its new fiscal year and the medium term, following a multi-year slump in automotive and industrial chip demand.
“Given the current reduced visibility and market uncertainties, the group withdraws any guidance, whether related to all or part of its activities”, it said in a statement, adding it will only guide on a quarterly basis.
It expects first-quarter revenue to fall 20% year-on-year at constant exchange rates, against the €121 million ($137.1 million) it…
