Euro's strength is hurting exports, ST CEO says

As the value of the yen weakens, the euro is gaining strength against the dollar, having a deleterious effect on exports by European companies, according to STMicroelectronics CEO Carlo Bozotti. "We need to have a currency that allows companies in Europe to be competitive in the world," he said Thursday. Meanwhile, ST grew its sales of microelectromechanical system devices and sensors by 19% last year to about $800 million, IHS estimates. The chipmaker claims it has shipped a total of 3 billion MEMS sensors to market.

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Wall Street Journal, The · Electronics Weekly (U.K.) · Electronics Weekly (U.K.)

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