August 2, 2012 — Following Q3 revenue of EUR990 million, approximately unchanged compared to the previous quarter and outlook for Q4 flat to down slightly, Infineon implemented measures to reduce costs. Full-year revenue will be down approximately 3% from 2011.
Worldwide headcount was frozen, starting in July. In addition, investments planned for the 2013 fiscal year are to be reduced sharply compared to the original plan and will be significantly lower than in the 2012 fiscal year.
As previously reported, Infineon Technologies AG selected Dr. Reinhard Ploss, a member of the chipmaker’s board, to replace Peter Bauer as CEO at the end of the current fiscal year (October 1, 2012). Bauer announced plans to step down, for health reasons, in May. Ploss has worked with Bauer over the past 4 years on restructuring Infineon.
The company expects its strategic focus on energy efficiency, mobility and security to pay off once sales volumes improve.