NXP Semiconductors Records Marginal Growth in Q4 and Full-Year Financial Results

NXP Semiconductors, a leader in semiconductor solutions, has unveiled its financial results for the fourth quarter and full year ending December 31, 2023, showcasing a positive trajectory in revenue and strategic advancements.
NXP revenue in 2023In the fourth quarter, NXP reported revenue of $3.42 billion, marking a 3 percent year-on-year increase. The full-year revenue reached $13.28 billion, representing a 1 percent year-on-year growth.

Breaking down the sales figures by segments, NXP demonstrated robust performance in the Automotive sector, generating sales of $7,484 million, reflecting a significant 9 percent increase from $6,879 million.

Conversely, the Industrial and IoT segment reported sales of $2,351 million, experiencing a decline of 13 percent from $2,713 million.

The Mobile sector saw sales of $1,327 million, showing a 17 percent decrease from $1,607 million.

In the Communications Infrastructure segment, NXP achieved sales of $2,114 million, registering a 5 percent increase from $2,006 million.

Kurt Sievers, President and CEO of NXP, commented on the results, stating, “We are navigating a soft landing by managing what is in our control, especially limiting over-shipment of products to customers.”

Noteworthy among recent strategic moves is NXP’s investment in and collaboration with Zendar Inc., a software start-up dedicated to revolutionizing autonomous vehicle systems through high-resolution radar, approaching LIDAR performance.

In the previous year, NXP expanded its scalable S32 vehicle compute platform with the introduction of the S32M2. This purpose-built motor control solution is optimized to enhance efficiency across vehicle edge node applications. The expansion enables carmakers to optimize product development and maximize software re-use across S32 platform implementations.

Additionally, in November, NXP introduced the Trimension NCJ29D6, a fully integrated automotive single-chip Ultra-Wideband (UWB) family. Integrated by major automotive OEMs, devices from this family are expected to hit the roads in model year 2025 vehicles.