NXP sales and profit shrink in corona year

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Photo credit: NXP/Studio040

NXP has seen its profits and sales decline in 2020. This is evident from the annual figures, presented by the Eindhoven-based chipmaker.

Revenue came in at 8.6 billion dollars; that is more than three percent less than in 2019. Profits declined by a third.

According to the chipmaker, 2020 was a year with two faces. The first part was marked by the corona pandemic, with far fewer customers and disappointing results. In the second half, the company flourished again, with rising demand for chips. The group saw an upturn, particularly from the automotive industry and the smartphone market, sectors to which NXP supplies many chips.

Top executive Kurt Sievers is, therefore, optimistic: “2020 was an eventful year. But, we see growth in sectors, that are important to us. We’ll also continue to invest in research and development. This will enable us to secure our success for the long term.”

Source: www.studio040.nl

Translation: Chaitali Sengupta, who gives online INBURGERING classes.


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