NXP predicts considerable loss

NXP, Amazon
Photo credit: Eindhoven Media Library/Studio040

NXP is forecasting a considerable loss for the near future. The Eindhoven chipmaker expects a loss of turnover of 115 to almost 240 million euros in the second quarter.

This means that the loss could rise to more than 20 per cent, as compared to the same period last year.

The reason is the corona crisis. The company is mainly affected by the affected automotive industry. NXP supplies chips for the automotive industry, but the factories are pushing back demands.

In the first three months of this year, the decline in turnover was limited to three per cent, compared to the same period in 2019.

Source: www.studio040.nl

Translation: Chaitali Sengupta, who gives online Inburgering classes.

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