Infineon Technologies saw second quarter sales fall 29% year-on-year, but indicated that it expected an improvement in the next three months.
“Although visibility still remains limited, Infineon expects group revenues for the third quarter to increase by approximately 10% compared to the second quarter,” said the semiconductor manufacturer.
Earlier this month, Infineon signed an important mobile phone chip supply deal with Nokia.
Infineon’s net loss of €258m in Q2 was heavily influenced by a write down of €100m associated with the company’s shareholding in the troubled memory maker Qimonda, which filed for insolvency in January.
This was a considerable improvement on a year ago when the Q2 loss was €1.9bn.
Net loss from continuing operations for the second quarter was €150m, an increase on the previous quarter loss.
"In this challenging environment, we further need to have a tight grip on expenses. Strategically, Infineon is positioned well,” said Infineon CEO Peter Bauer
Infineon’s revenues in the second quarter were €747m.