BERLIN (Reuters) – German chip manufacturer Infineon on Tuesday lowered its full-year revenue guidance, while also warning that demand for personal electronics would not see a noticeable recovery until the later half of 2024.
The company now expects full-year revenue of 16 billion euros ($17.20 billion), plus or minus 500 million euros, versus its previous expectation of 17 billion euros, plus or minus the same amount.
The revenue outlook is based on an assumed exchange rate of $1.10 to the euro, it said.
($1 = 0.9305 euros)
(Writing by Miranda Murray, Editing by Rachel More)
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