On Semiconductor reported fourth-quarter revenue of $1.53 billion, down 11% year-over-year, as persistent weakness in its power and analog business units dragged down performance. The semiconductor manufacturer's two largest segments continued to post sales declines, signaling ongoing challenges in these core markets.

This marks another quarter of contraction for On Semi, which has been grappling with softening demand across multiple product lines. The power and analog segments, which typically serve automotive, industrial, and consumer electronics markets, have faced headwinds from inventory corrections and cyclical downturns in key end markets. The company's struggles reflect broader industry challenges as semiconductor companies navigate a complex demand environment.

The revenue decline underscores the cyclical nature of the semiconductor industry and highlights the vulnerability of companies heavily exposed to power management and analog technologies. With competitors also reporting mixed results, On Semi's performance may signal continued pressure on margins and growth prospects in the near term.