STMicroelectronics on Wednesday delivered an upbeat assessment on second-half demand for its smartphones-focused products, brushing off investor anxiety over the soft takeoff of Apple's iPhone X.

Analysts estimate that Apple represents about 10 percent of STMicro's revenues. The group makes imaging and proximity sensor products used in the iPhone X, according to analysts. "We expect STMicro to benefit from a strong second-half due to continuing strength in the automotive and IoT (Internet of Things) segments, and the ramp of multiple new iPhone models with 3D sensing later in the year," Liberum said in a note.

STMicro does not name its customers, but chief executive Carlo Bozotti said he expected 'healthy demand' across all its products in the second-half, including smartphones. More on the Reuters report here.

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