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Friday, March 20, 2009

Infineon gets $68M order from Huawei

German computer chipmaker Infineon Technologies AG said Thursday it has signed a letter of intent with telecoms company Huawei Technologies of China for an order worth $68 million (€52 million).

Infineon said it will supply Huawei's wireline and wireless communications phone systems business, allowing Huawei to deliver more advanced systems to the telecoms market. Delivery of some of the products has already started, with the rest expected to be delivered this year.

Dominik Bilo, Infineon's sales and marketing president said in a statement : "Huawei and Infineon are maintaining a very positive and long lasting business relationship,".
"We are very happy that we could extend this successful relationship from year to year and now sign this agreement for delivering cutting-edge technologies and communication solutions."

Shares of Infineon were up 1.4 percent on the announcement at €0.65 in Frankfurt trading.

The Associated Press

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