German chip maker Infineon raises quarterly sales target

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

Semiconductor giant Infineon upgrades outlook

(c) 2009 AFP

Citation: German chip maker Infineon raises quarterly sales target (2009, December 22) retrieved 18 August 2019 from https://phys.org/news/2009-12-german-chip-maker-infineon-quarterly.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments

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