German chip maker Infineon raises quarterly sales target

Dec 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: Zynga seeks new harvest with mobile FarmVille game

add to favorites email to friend print save as pdf

Related Stories

Semiconductor giant Infineon upgrades outlook

Nov 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.

'Collapse' in semiconductor demand hits ASML

Jul 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.

Recommended for you

Weibo IPO below expectations, raises $285.6 mn

9 hours ago

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street.

'Chief Yahoo' David Filo returns to board

10 hours ago

Yahoo announced the nomination of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."

Fired Yahoo exec gets $58M for 15 months of work

10 hours ago

Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.

IBM posts lower 1Q earnings amid hardware slump (Update)

20 hours ago

IBM's first-quarter earnings fell and revenue came in below Wall Street's expectations amid an ongoing decline in its hardware business, one that was exacerbated by weaker demand in China and emerging markets.

User comments : 0

More news stories

Tiny power plants hold promise for nuclear energy

Small underground nuclear power plants that could be cheaper to build than their behemoth counterparts may herald the future for an energy industry under intense scrutiny since the Fukushima disaster, the ...

Hand out money with my mobile? I think I'm ready

A service is soon to launch in the UK that will enable us to transfer money to other people using just their name and mobile number. Paym is being hailed as a revolution in banking because you can pay peopl ...

Classifying cognitive styles across disciplines

Educators have tried to boost learning by focusing on differences in learning styles. Management consultants tout the impact that different decision-making styles have on productivity. Various fields have ...