LTC has been gradually increasing its ASP. In 2009 it was $1.60. Now it is $1.80. "Looking a few years ahead we expect an ASP of $2," says Maier.
"The last two years have been the company's best sales years," says Maier, "we've focussed on markets that are having an innovation cycle. We've transitioned the business away from the consumer side. We're outgrowing the overall analogue market as well as our competitors."
For instance, in 2003 14% of LTC's business was in cellphones. Last year it was 1%. This year it's almost nothing. "The ASP for analogue in cellphones has been getting lower between 2009-12," says Maier adding, with pointed irony, "so we don't feel we're missing too many opportunities by not being focussed on the cellphone market."
Maier likes the automotive market (he drives a Maserati) and says LTC has increased its sales into the automotive market by 40% in the last three years. While the overall growth of analogue sales into automotive has been 5.9% CAGR for the last three years, LTC's has been 9.4%.
"It's been driving our growth for the past three years," says Maier, "it's an innovation-rich area - the sky's the limit."
LTC reckons there is $8bn of growth to be had in the analogue business over the next three years. Over 40% of the company's sales are now into the industrial market with 22% in communications.
Micromodules are becoming an increasing part of the business where LTC moves up the value chain. "Our customers want more of a solution," says Maier, "the biggest growth is in more integrated products."