Onsemi sharpens focus on cost control, portfolio streamlining, and SiC gains to navigate downturn
On May 5, On Semiconductor (Onsemi) reported a 22% revenue drop to US$1.45 billion in the first quarter of 2025, with margins squeezed by lower utilization and pricing pressures. The company is streamlining its portfolio, exiting non-core businesses, and boosting silicon carbide (SiC) wins in China’s EV market to navigate the downturn.