German chipmaker claims that China's businesses are not affected by the short-term challenges brought by the pandemic. The company added that it has a long-term plan and strategy in the country and believes that it would emerge for having been present in the market for 25 years.
The president of Infineon Technologies China Su Hua noted that the company has been operating in China for 25 years. The German chipmaker claimed to have witnessed double-digit annual growth in the last decade and remains committed to developing its business in the country. Su also said that the company would provide a safer and greener innovative semiconductor market in China.
In an interview, Su shared his confidence with the Chinese economy and how Infineon Technologies survived the pandemic. He believed that the pandemic did bring economic disruptions in the country but that the Chinese economy remains resilient towards the challenges.
Su noted that China is the second-largest economy worldwide and that its market potential remains strong. Infineon Technologies is also a global leader in semiconductor production and recognizes its Chinese business as a valuable part of the worldwide economy.
Infineon Technologies entered the Chinese market in 1995. Since then, the business perceives China as a country that further opens itself to continue making significant contributions to diversified markets. Sue claimed that China's willingness to promote innovation and digital transformation would create better business opportunities for domestic and foreign enterprises.
Su further added that the pandemic would not affect the business's long-term strategies in China. He noted that the semiconductor industry has been one of the most complex sectors and that its supply chain network is vast.
He also noted that the local government has been supporting the business. He revealed that Infineon Technologies has been the very first company In Wuxi that ran production facilities that resumed operations after restrictions were lifted.
By the end of February, the company resumed operations and allowed 95 percent of its workers to continue their work. The non-frontline employees of the company in other markets adopted a work-from-home policy and have been continuously receiving support from Infineon.
Su also added that the pandemic put the Chinese government, economy, and society to the test. However, Su believed that China handled the challenges properly as it continues to persevere and remain determined to contain the outbreak. The company was said to offer assistance to the Chinese government and have been collaborating with relevant charity organizations. It even gave a donation worth two million yuan to show its support.
Earlier this month, Infineon Technologies reported that its net income for the second quarter of 2020 fell, but its revenues increased slightly. The improvement was due to contributions from the company's segments.
It earned a net income of 178 million from 231 million euros. Analysts were expecting the income to be around 201 million euros. On the other hand, its revenue for the period increased to 1.99 billion from 12.98 billion euros.
