The German company is now expecting a revenue of 15.1bn, plus or minus 400mn.
Thats down from the previous forecast of 16bn, plus or minus 500mn.
The decline stands, however, at 12% year-on-year.
Revenue in the first quarter of 2024 also decreased by 11% compared to the last quarter of 2023.
Jochen Hanebeck, Infineons CEO, attributes this years more conservative earnings forecast to a prevailing difficult market environment.
This includes the automotive sector, consumer electronics, and the decarbonisation industry three of Infineons key markets.
Amid aslowdownfor the chip market, Infineon is joining a growing number of semiconductor companies struggling with profit drops.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
