Chip firm NXP hit by credit crisis
Chip factory NXP saw its operational profit fall 90% in the third quarter to $15m, the Financieele Dagblad reports on Tuesday.
Turnover fell 4.2% to $1.3bn. NXP, formerly owned by Philips, announced in September it is to scrap 4,500 jobs worldwide.
‘The financial crisis and the situation in the semi-conductor market have led to a speedy worsening of demand towards the end of the third quarter,’ the FD quotes CEO Frans van Houten as saying.
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.
Make a donation