STMicroelectronics , one of Europe's largest chipmakers, said on Thursday it expected sales to fall further in the first quarter of 2025, as the downturn seen in its key markets drags on into the new year.

In terms of operating expenses (selling, general, and administrative expenses, and research and development), STMicroelectronics expects annual cost savings in the range of $300M to 360M, exiting 2027, compared to the cost base of 2024.

STMicroelectronics, one of Europe's largest chipmakers, said on Thursday it expected sales to fall further in the first quarter of 2025, as the downturn seen in its key markets drags on into the new year.