NXP Gives Disappointing Sales Forecast as Chip Slump Persists

NXP Semiconductors NV give a disappointing forecast for first-quarter revenue, signaling that sluggish demand for industrial and automotive chips is lingering.

Revenue will decline about 10% to $2.83 billion in the period, the Dutch semiconductor company said in a statement on Monday. That compares with a $2.92 billion average estimate from analysts surveyed by Bloomberg.