Automotive Growth Pushes Infineon Into Top 10

LONDON – Growth in automotive IC sales in the calendar first quarter propelled Germany's Infineon AG into the top 10 in chip sales worldwide. Infineon, which also enjoyed growth in industrial and power products, ranked 10th worldwide among semiconductor vendors, edging out Taiwan's MediaTek, according to market research firm IC Insights Inc. 

Infineon last week reported sales of 1.77 billion euro (about $1.93 billion) for the quarter ended March 31, representing growth of 7 percent compared to the previous quarter and an increase of 10 percent year on year. 

“Business at present is running extremely well, in the first quarter the market for Infineon developed very encouragingly and the trend continued from January to March,” said Infineon’s CEO, Reinhard Ploss. “The order situation is excellent and exceeds our early expectations. Against this backdrop, at the end of March we raised our forecast for earnings and revenue.”

As in previous quarters, Infineon’s automotive segment was the strongest, growing 11 percent over last quarter to 783 million euro (about $855 million) in revenue. “The increase was due to good demand for products in driver assistance systems and for hybrid and electric vehicles. In Europe and China in particular, many microcontrollers, power semiconductors and sensors were sold,” Ploss said, highlighting that an automotive boom in China has seen the market for semiconductors grow by 20 percent while Infineon’s share there has increased by almost 50 percent, allowing the company to expand on its position as number 2 in the market in that region.

To read the rest of this article, visit EBN sister site EE Times

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