German chip giant lowers 2024 forecast as electronics slowdown bites
Get the Full StoryInfineon, 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, This story continues at The Next WebShare: