The STMicroelectronics Group was formed in June 1987 by the merger of SGS Microelectronics in Italy and Thomson Semiconductor in France. In May 1998, SGS-THOMSON Microelectronics changed its name to STMicroelectronics GmbH. ST is one of the world's largest semiconductor companies, and its sales revenue is evenly distributed among the five high-growth markets of the semiconductor industry (the top five markets accounted for a percentage of sales revenue in 2007): communications (35%), consumer (17%), computing (16%), automotive (16%), and industrial (16%). According to the latest industrial statistics, STMicroelectronics is the world's fifth-largest semiconductor manufacturer and a world leader in many markets. For example, ST is the world's number one manufacturer of application-specific analog chips and power conversion chips, the world's largest supplier of industrial semiconductors and set-top box chips, and a world leader in discretes, mobile phone camera modules, and automotive integrated circuits.