The STMicro (ST) Group was formed in June 1987 through the merger of Italy's SGS Microelectronics and France's Thomson Semiconductor. In May 1998, SGS-THOMSON Microelectronics changed its company name to stmicroelectronics Limited. Stmicroelectronics is one of the world's largest semiconductor companies. The company's sales are evenly distributed (as a percentage of revenues in 2007) among the five fastest-growing markets in the semiconductor industry: Communications (35%), Consumer (17%), computer (16%), Automotive (16%), and Industrial (16%). According to the latest industrial statistics, STmicro is the world's fifth-largest semiconductor vendor and the world leader in many markets. For example, stmicroelectronics is the world's No. 1 manufacturer of dedicated analog chips and power conversion chips, the world's No. 1 supplier of chips for industrial semiconductors and set-top boxes, and a global leader in discrete devices, mobile phone camera modules, and automotive integrated circuits.