14 DAY TRIAL // Infineon posted today the company’s financial results and it appears that its profits dropped by an impressive amount of 81 percent. Infineon Technologies AG is a German semiconductor manufacturer founded on April 1st, back in 1999, from the parent company Siemens AG.
Surprisingly, especially for a German company, the latest profit results resembled an April Fools' joke and would have been considered as such back when the company was founded.
Siemens was investigated many times for bribing different foreign governments into buying the company’s products and services.
In a report from CNN last year, the company bragged about having so many secured contracts that, for them, there was no economic downturn.
Considering Siemens' past practices, we’re not surprised, but it seems that they left daughter company Infineon without too many chip orders.
The automotive industry is also struggling with sales drops and this is a very important market for Infineon’s products.
We’re glad that Infineon is still in the green, albeit barely. And we hope the company will be smarter than closing all its Europe research centers and packing up for India or China.