Product AdoptionSmartSiC has suffered from slow adoption of T1 players and a soft end-demand for EVs in general, coupled with strong competition from Chinese companies in the SiC space.
Revenue DeclineAutomotive and Industrial revenue, at €26m, declined 31% LFL yoy, and were 32% below consensus.
Sales OutlookThe current inventory digestion of RF-SOI wafers at the direct customers of Soitec was the core driver for an 'only' flat sales outlook this fiscal year.