STMicroelectronics, Europe’s largest semiconductor company, saw sales increase 14 per cent sequentially to $2.27bn in the third quarter of 2009, as sales of the computers and cars that use the company’s microchips began to pick up again.

“All market segments contributed to the sequential revenue growth, with the computer and automotive markets growing the fastest,” said Carlo Bozotti, chief executive. “We are encouraged as growth restarted in America and Europe and continued to be strong in Asia Pacific and Greater China ... We are confident the industry recovery is gaining momentum and that the worst of the economic crisis is behind us.”