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Infineon boosts forecast as orders begin to spike

Infineon Technologies AG, Europe's second-largest chipmaker, raised its forecast for growth in the global semiconductor industry this year after business improved over the past four months, a spokesperson said.

The company now expects the global industry to expand more than the 22 percent the Munich-based company had predicted in April, spokeswoman Barbara Reif said. By contrast, growth in the US chip industry this year will probably fall short of an estimate of between 25 percent and 30 percent, she said, citing the effect of the weaker dollar and rising oil prices.

In the US, from where Infineon gets almost a quarter of global sales, the company plans to become the biggest provider of chips used in the automotive industry in the next two to three years, Reif said. Infineon now ranks third in that industry segment in the US.

The company has hired Wolfgang Ziebart, an executive from the car industry, as its new CEO.
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