Infineon reports sales drop, warns of slowdown

German semiconductor concern Infineon Technologies AG reported on Monday that its sales dropped in the first quarter of the 2004-2005 business year and warned of a further slowdown ahead.

Citing lower demand due to inventory corrections by customers, Infineon said its revenues in the quarter ending 31 December came to EUR 1.82 billion, down 9 percent on the preceding quarter but up 12 percent on the same quarter a year ago.

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