Infineon
Assets
Infineon Technologies AG is a German company, a major manufacturer of telecommunications chips headquartered in Neubiberg, a southeastern suburb of Munich.
Performance indicators
2019: Among the largest companies in the semiconductor industry by revenue
History
2024: Mass layoffs
On August 5, 2024, German chipmaker Infineon announced a reorganization in which mass layoffs will be carried out in divisions around the world. The initiative is aimed at reducing costs against the background of declining revenue.
Infineon faced declining sales of specialty chips used in electrified vehicles. In addition, macroeconomic factors have a negative impact on business. In the current conditions, the company is forced to abolish about 1,400 jobs in divisions around the world. Another 1,400 employees will be transferred from Germany to countries with lower salaries.
As of mid-2024, Infineon employs about 58,600 people worldwide. Thus, as part of the reorganization, the staff will be reduced by 2.4%. In addition, the company adjusted the forecast for annual revenue downward: in 2024, the figure is expected at €15 billion, while the figure of €15.1 billion was previously called.
 | The recovery in our target markets is moving very slowly. Prolonged weak economic dynamics have led to the fact that product stocks in many areas exceed demand, "said Infineon CEO Jochen Hanebeck. |  |
Infineon's financials depend heavily on orders from electric vehicle manufacturers. However, in this segment there is a weakening of consumer activity, which is explained by higher interest rates, less than expected economic growth, as well as a shortage of charging stations. Many motorists, previously eyeing electric cars, eventually prefer hybrid models or cars with a traditional internal combustion engine.[1]
2023: Building a company to advance RISC-V's open architecture
On August 4, 2023, Qualcomm, NXP Semiconductors, Infineon Technologies, Nordic Semiconductor and Bosch announced the formation of an alliance to develop the RISC-V open processor architecture. Read more here.
2022: Refusal to supply chips for passports to Russia
In August 2022, Infineon refused to supply chips for foreign passports to Russia. The company is at the stage of liquidation of its enterprises in Russia. The situation will also affect the technical support of the company, which will not be produced in the future. The supply of biometric chips that are used in biometric passports will be discontinued. The issuance of biometric documents for residents of the Russian Federation has been suspended.
2021: Creation of a consortium to introduce quantum technology to industry
In mid-June 2021, BMW, along with BASF, Boehringer Ingelheim, Bosch, Infineon, Merck, Munich Re, SAP, Siemens and Volkswagen, created the Quantum Technology and Application Consortium (QUTAC), whose members intend to develop a large number of examples for use in industry to create demand for quantum computing. According to QUTAC, this will accelerate the development of technology in Germany and Europe. Read more here.
2019: €9bn purchase of chipmaker Cypress Semiconductor
In early June 2019, Infineon Technologies announced the acquisition of Cypress Semiconductor for €9 billion. With this deal, Infineon becomes the leader in the global automotive chip market. Read more here.
2016: Europe's biggest chipmaker swallows US counterpart for $850 million
Europe's largest chipmaker Infineon Technologies announced in the summer of 2016 the purchase of Wolfspeed Power[2].
The company, which Infineon Technologies acquired, is based in America and produces power management chips. Wolfspeed, a subsidiary of Cree, sold to Infineon for $850 million. Infineon Technologies through the purchase of Wolfspeed intends to expand its presence in the markets of electric vehicles, as well as the "Internet of Things" and renewable energy sources.
Wolfspeed ended its fiscal year in March 2016. According to the report, the company's revenue was $173 million. Infineon is hoping for increased margins and profits immediately after the official takeover of Wolfspeed.
2015
In 2015, Infineon acquired power semiconductor manufacturer International Rectifier for $3 billion.
2014
In 2014, it became known about the largest transaction of Infineon Technologies AG - the purchase of International Rectifier.
2012
In 2012, the annual turnover of the company with 26,700 employees amounted to 3.9 billion euros.
2010
In 2010, part of Infineon, which manufactures chips for smartphones, was bought out by Intel. The world's largest semiconductor manufacturer Intel bought Wireless Solutions Business (WLS) for $1.4 billion.
2007
In 2007, together with another major conductor manufacturer, American IBM, Infineon Technologies sold a joint venture Altis Semiconductor to the Swiss company Advanced Electronic Systems AG (AES), which is owned by the Russian holding GIS (Global Information Services).
Notes
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