Infineon Technologies has revealed results for the third quarter of the 2020 fiscal year (period ended 30 June 2020).
“Infineon has so far coped well with the challenging situation caused by the coronavirus pandemic. As a company, we reacted quickly to the new situation and established a framework that has enabled us to stabilize our business. Our diversified business model – which is further strengthened with the integration of Cypress – has proven to be robust, especially in terms of profitability,” said Dr. Reinhard Ploss, CEO of Infineon.
“The pandemic continues to have a significant impact on our target markets, resulting in weaker demand in many product areas. Thankfully, we are seeing concrete signs of recovery within the automotive sector, which has been particularly hard hit. Infineon is also benefitting from increased digitization through the growing volume of data traffic, the Internet of Things and mobile communication. Our outlook for the final quarter of the fiscal year is cautiously optimistic. That said, our business performance is highly dependent on how the coronavirus pandemic continues to unfold worldwide, on the impact of the economic stimulus packages that have been implemented, and on a variety of geopolitical factors.”