ON Semiconductor Corporation (ON) CEO Hassane El-Khoury presents at NASDAQ 47th Investor Conference (Transcript)

Dec. 06, 2022 9:52 AM ETON Semiconductor Corporation (ON)
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ON Semiconductor Corporation (NASDAQ:ON) NASDAQ 47th Investor Conference Call December 6, 2022 3:30 AM ET

Company Participants

Hassane El-Khoury - CEO

Thad Trent - CFO

Conference Call Participants

Joe Moore - Morgan Stanley

Joe Moore

So, welcome back. I am Joe Moore. Very happy to have with us today the management team from ON Semiconductor, including Hassane El-Khoury, CEO; and Thad Trent, CFO. And I'm really excited to have you guys here. You'll really touch a lot of the key debates that we are dealing with right now across semis. So, thanks for coming.

Question-and-Answer Session

Q - Joe Moore

Maybe we could start off with just a general commentary on the environment. You guys have talked about strength in autos, maybe pockets of weakness elsewhere. How durable do you see those trends looking forward?

Hassane El-Khoury

Yes. Look, as a general comment on the market, as you mentioned, the automotive strength is coming from a very sustainable mega trend, which is electrification of vehicles that we see as sustainable through, call it, the next decade as more and more OEMs introduce their electrification platforms. If you think about the announcements made anywhere between 2025, 2030 is where more and more of these vehicles will come in, and that’s the underlying strength that we see in our automotive business with power. And of course, parallel to that, you have the autonomous driving, which is, for us, the cameras in the vehicles. As that more and more gets into penetration on all vehicle platforms, we see that strength continuing again over a multiyear period.

On the industrial side, it’s a -- I'll call it a mixed bag. The industrial side, that’s closer to the consumer or more tied to consumer demand like power tools, for example, we see that softening, we saw it softening, and we took actions to get

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