Infineon, one of the biggest chip makers in Europe, has lowered its revenue outlook for the year, citing “weak” demand from its major target markets. The German company is now expecting a revenue of €15.1bn, plus or minus €400mn. That’s down from the previous forecast of €16bn, plus or minus €500mn. In the second quarter of 2024, Infineon saw a 2% drop in revenue compared to the previous quarter, generating €3.36bn. The decline stands, however, at 12% year-on-year. Revenue in the first quarter of 2024 also decreased by 11% compared to the last quarter of 2023. Jochen Hanebeck, Infineon’s CEO,…
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