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Amid the chip market’s downturn, @Infineon expects less revenue this year https://t.co/4fDm7caHpx
German chipmaker Infineon cuts its revenue forecast in the year to September 2024 to €15.1B, below €15.7B est., signaling automotive chip demand remains weak (Bloomberg) https://t.co/bBKkDm3Nf9 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/4ktlfByVqA
Infineon Cuts Revenue Outlook as Carmakers’ Growth Slows https://t.co/TKYCudVXnA
Infineon, a German chipmaker, has signed a deal to supply power semiconductors to Chinese EV maker Xiaomi until 2027. However, Infineon has lowered its sales forecasts for fiscal 2024 due to slowing growth in the automotive sector. The company now expects revenue of €15.1B for the year, below the estimated €15.7B, indicating weak demand for automotive chips.