Reported 18 days ago
Austrian semiconductor manufacturer ams OSRAM anticipates a decline in fourth quarter revenue, predicting between 810 million and 910 million euros due to uncertain global automotive demand. With a weak start expected for 2025, the company is facing significant challenges, including a 65.2% drop in shares year-to-date and job cuts affecting over 500 staff. Analysts attribute the disappointing forecasts to the broader weakness in automotive sales, especially for electric vehicles reliant on chip technology, while also expressing concerns over the ramifications of a canceled microLED factory project.
Source: YAHOO