Infineon’s quarterly revenue, forecast beats on robust chip demand

STOCKHOLM: German chipmaker Infineon reported on Wednesday a rise of 10% in fourth-quarter revenue, as a global shortage of semiconductors has driven up the prices of, and demand for, chips used in everything from cars to mobile telephones.

Infineon, which gets about 40% of sales from the automotive sector, also forecast first-quarter revenue of 3 billion euros, exceeding the 2.93 billion euros expected in a poll of 19 analysts by Vara Research.

“We are investing significantly more in order to take advantage of opportunities to grow,” Chief Executive Reinhard Ploss said in a statement.