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STMicro's average chip prices up 5per cent so far this year, CEO says

PARIS: The average price of STMicroelectronics' chips has increased by 5per cent in 2021 from a year ago, Chief Executive Officer Jean-Marc Chery said on Thursday, as the semiconductor industry struggles to meet booming demand worldwide.

The Franco-Italian group will only be able to meet 70per cent of total customers' demand this year, Chery said in an interview. It will be able to increase that level to 85-90per cent next year, he added, by increasing its production capacity.

(Reporting by Mathieu Rosemain; editing by Christian Lowe)

Source: Reuters

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