NXP sales down nearly 20 percent due to corona

Sales doen at NXP
Photo Credit: Eindhoven Media News

Turnover of the Eindhoven chipmaker NXP declined by eighteen percent in the second quarter compared to last year. This is evident from the company’s quarterly figures.

As expected, this decline in turnover is due to the corona crisis. Particularly, the company’s automotive  department is affected. The quarterly figure for that sector fell by 35 percent compared to a year earlier.

The mobile and communication infrastructure sectors also saw their turnover decrease by fourteen and nine percent respectively. The sector manufacturing industry and ‘Internet of Things’ grew by 12 percent compared to twelve months before.

In spite of the crisis, however, turnover still amounted to 1.8 billion US dollars.

Kurt Sievers, CEO of the company, has a good feeling about the rest of the year. “In China there is a positive development, which is encouraging. Sales from our distribution channels have also gradually improved. Therefore, we expect sales to improve in the second half of the year.”

Source: www.studio040.nl

Translation: Chaitali Sengupta, who gives ONLINE Inburgering classes.

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