The German chipmaker Infineon has cut his expectations for this year. The company attributes the adjustment, among other things, to the weak performance in the Chinese car market. Global concerns about the state of the economy are also do not do any good for the company’s performance.
Infineon reported in an explanation that the outlook in some of its end markets is blurry. In February, car sales in China turned out to be even lower than those expected by experts. For the entire year, Infineon is now counting on 5.3 percent revenue growth to an amount of 8 billion euros. Previously, the company hoped on a sales growth of 9 percent.
Tech giant Apple recently shook up the chip maker market with its lesser performance and prospects, while the continuing trade feud between China and the US is also not good for the chip sector as a whole. Infineon is seen, among other things, as a direct competitor of the Dutch NXP Semiconductors.