LONDON ó German chip vendor Infineon Technologies AG is predicting revenue
growth for its 2010 financial year in the "high 30 percent range" compared with
the previous fiscal year that ended on Sept. 30, 2009, according to a Bloomberg
In the longer term Infineon is looking to achieve 5 billion euro (about $6.1
billion) in annual sales compared to $3 billion euro (about $3.7 billion) annual
sales in the 2009 financial year.
Infineon will have faster growth than the overall semiconductor market
because of the market segments it is targeting, the report quoted CEO Peter
Bauer as saying.
Bloomberg was reporting on Infineon investor day held in Munich, where the
Bauer reportedly did not comment on reports that Infineon has hired JP Morgan examine the strategic
options for its wireless communications division.
Infineon is "very well positioned" to benefit from the use of mobile devices
to connect to the Internet, the report quoted Bauer as saying. In the last
financial year the wireless business unit had sales of 917 million euro (about
$1.1 billion) or about 30 percent of Infineon's annual sales.
Infineon has 1.4 billion euro (about $1.7 billion) in cash that could be put
towards acquisitions although its return to shareholders in the form of a
dividend would seem a more likely course of action. "On M&A we'll remain
extremely cautious," Bauer is reported to have said.
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