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German chipmaker Infineon disappoints as production falters

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DPA

A modest rise in profits at German chipmaker Infineon despite strong demand for its products disappointed analysts on Tuesday and hit the company’s share price on the Frankfurt Stock Exchange. In the three months through the end of June, turnover rose just 1 per cent on the previous quarter, to 2.72 billion euros (3.23 billion dollars), disappointing analysts. The company attributed the relatively weak turnover figures to pandemic-related restrictions on its Melaka plant in Malaysia and the effects of a storm in Austin in Texas. “Demand for semiconductors is unbroken, as they play a key role i…

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