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Infineon announces annual results

Infineon announces annual results

Today Infineon announced its results for 2001 and the fourth quarter. Infineon, too, has to report losses and declines in sales and, like many other companies, is affected by the fall in prices and sales completed, with sales in the non-storage area increasing by 10 percent. For the year as a whole, a net loss of 591 million euros was reported, mainly caused by the sharp fall in storage prices. In the fourth quarter, sales fell by 54 percent to EUR 1.09 billion, compared with the third quarter by 15 percent. The net loss for the fourth quarter is 523 million euros. Infineon intends to achieve savings of 1 billion euros in the 2002 financial year through extensive cost reductions.