German chip maker Infineon raises quarterly sales target

December 22, 2009

Long-suffering German semi-conductor maker Infineon raised its quarterly sales target Tuesday owing to stronger demand from clients in the automotive and energy sectors.

Infineon now expects sales in the first quarter of its 2009-2010 to be nearly 10 percent higher than in the previous quarter, when they amounted to 855 million euros (1.2 billion dollars).

When it reported results for the fiscal year that ended on September 30, Infineon anticipated sales of around the same level in the first quarter.

After several years of poor results, the company said last month it saw brighter prospects having gotten rid of the loss-making subsidiary Qimonda.

The revision was the result of "strict cost control combined with an improvement in the industrial context," board chairman Peter Bauer was quoted by a statement as saying.

The group now hopes for a pick-up in the automobile sector, which consumes more and more electronic components as it develops fuel efficient and .

Investors cheered Tuesday's news meanwhile, and shares showed a gain of 2.96 percent to 3.83 euros in midday trading on the Frankfurt stock exchange, while the DAX index of German blue-chips was 0.43 percent higher overall.

Explore further: Germany's Infineon needs state guarantees: report

Related Stories

'Collapse' in semiconductor demand hits ASML

July 15, 2009

Dutch computer chip equipment maker ASML announced net losses for the first quarter after a collapse in sales, but said it saw signs of improving market conditions.

Semiconductor giant Infineon upgrades outlook

November 19, 2009

German semi-conductor maker Infineon on Thursday upgraded its turnover and profits forecast over the next 12 months because of higher demand from the auto industry and cost cuts.

Recommended for you

The ethics of robot love

November 25, 2015

There was to have been a conference in Malaysia last week called Love and Sex with Robots but it was cancelled. Malaysian police branded it "illegal" and "ridiculous". "There is nothing scientific about sex with robots," ...

No lens? No problem for FlatCam

November 23, 2015

How thin can a camera be? Very, say Rice University researchers who have developed patented prototypes of their technological breakthrough.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.