Infineon lowers its 2024 silicon carbide revenue forecast

Infineon's silicon carbide business revenue in fiscal 2023 was 500 million euros, a year-on-year increase of more than 10%. At that time, it was expected that SiC revenue would increase by 50% year-on-year in fiscal 2024 and exceed 1 billion euros in fiscal 2025. However, in the first quarter of this year, Infineon's overall revenue fell by 12% year-on-year, among which the automotive business revenue remained stable month-on-month, but it is clear that the growth rate of the automotive industry is slowing down. Therefore, Infineon also lowered its revenue forecast for 2024 from 16 billion euros to 15.1 billion euros.