Semiconductor industry - Infineon is having a hard time getting out of the crisis
Chipmaker Infineon is only slowly emerging from the crisis. In the third quarter of its fiscal year, the company from Neubiberg near Munich was able to slightly increase its revenue and profit compared to the previous quarter, it announced. However, the company fell short of its forecast and expectations with revenue of 3.7 billion euros. Compared to the third quarter of the previous year, profit of 403 million euros shows a significant decline of almost half.
Infineon CEO Jochen Hanebeck spoke of a challenging market environment. "The recovery in our target markets is progressing only slowly. Given the persistently weak overall economic dynamics, inventories are often overriding final demand."
For the fourth quarter, Infineon expects revenue of "approximately" 4 billion euros, with increasing revenue in all segments. For the entire year, it is expected to be 15 billion.
The 'Chip group' Infineon, under the leadership of CEO Jochen Hanebeck, expects a revenue of around 4 billion euros in the fourth quarter, with growth in all segments. Despite the anticipated revenue increase, Infineon's 'Chip group' is managing in a challenging market environment, with inventory levels sometimes surpassing final demand due to the persisting weak economic dynamics.
