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Infineon Completes Sale of Mobile Phone Business to Intel
Infineon Technologies has completed the sale of the mobile phone business (Wireless Solutions) to Intel Corp. Following the sale, approximately 3,500 employees in total will move globally from Infineon to the new company Intel Mobile Communications GmbH (IMC), which will be headquartered in Neubiberg near Munich, Germany. The final purchase price amounts to $1.4 B in cash.
Besides the mobile phone business, the former Wireless Solutions segment of Infineon included analog and digital TV tuner and satellite radio receiver components as well as the radio frequency power transistors for amplifiers in cellular base stations. This business will remain with Infineon.
Prof. Dr. Hermann Eul will become the President of IMC, leaving his position as Member of the Management Board of Infineon Technologies AG. His former responsibilities for sales and marketing will be taken over by Infineon CEO, Peter Bauer. Dr. Reinhard Ploss will take over responsibilities for technology and R&D in addition to being Head of Operations and Labor Director.
“I’m very glad to be able to hand over the mobile phone business to Intel in such great shape, and am delighted to know it will be led by Prof. Dr. Eul. Together with Intel there are bright prospects for further growth and further strengthening its market position,” said Bauer. “This transaction marks the completion of Infineon´s reorientation over the last years toward a higher stability. Infineon currently holds market leading positions in each of its three remaining business segments – automotive, industrial and security electronics – and enjoys excellent prospects in these markets in terms of growth and profitability.”