Infineon, Europe’s largest chipmaker, said sales in the last quarter of 2021 rose 20% year-on-year, as it sought to increase business in the Asia-Pacific region.
The German group, whose biggest customers are carmakers, also raised its revenue guidance for the current fiscal year to 13 billion euros ($14.7 billion).
For the three months to the end of December, profits came in at 457 million euros, up from 256 million euros in the same period in 2020 but slightly lower than the 464 million euros reported in the previous quarter.
The company cited higher tax expenses for the profit decline.
Infineon is hoping to boost its Asia-Pacific business, especially in China. Last month, the company hosted a conference in Shenzhen on the Internet of Things, mobility and energy efficiency.
Creating an Ecosystem
It said it wanted to create an ecosystem across the industry chain with partners to help local industries integrate, innovate and develop across fields.
“Digitisation and electrification will accelerate the transformation of society and the economy,” chief marketing officer Helmut Gassel said at the conference.
Infineon, which last year opened a plant in Villach, Austria, said it would spend 2.4 billion euros on expanding operations to meet demand.
“Utilisation of our manufacturing capacities is very high and we are expanding them step by step,” outgoing chief executive Reinhard Ploss said.
“We expect the supply situation in some application areas to remain tight well into the current calendar year.”
- George Russell
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