Asia Tech Wire (July 25) -- STMicroelectronics NV on Thursday again cut its annual revenue forecast.

The Geneva-based semiconductor maker said it would lower its revenue forecast for this year to $13.2 billion to $13.7 billion, down from $14 billion to $15 billion previously.

This is the second time this year that STMicroelectronics has lowered its annual outlook. In January, the company's annual revenue forecast had been as high as $16.9 billion.

The semiconductor maker reported its second-quarter revenue fell 25% to $3.23 billion, slightly below the analysts' consensus estimate of $3.2 billion.

STMicroelectronics CEO Jean-Marc Chery said in the Q2 report, "During the quarter, contrary to our prior expectations, customer orders for industrial did not improve and automotive demand declined."

He said lower-than-expected revenues in the automotive business offset sales growth in the company's personal electronics business.

STMicroelectronics' customers include electric car and smartphone makers such as Tesla and Apple.