NXP saw its turnover increase substantially in the first quarter of this year. In particular, automotive chipset sales grew strongly.
In the first quarter of 2022, the chip manufacturer realised a total turnover of 3.14 billion dollars (2.99 billion euros) — no less than a 22 percent increase from the same period in 2021. The quarterly revenue set a record. Net profit totalled 657 million dollars (625 million euros).
Most sales came from the automotive segment, a market in which NXP’s chips lead. In the first quarter of this year, this segment booked total sales of 1.55 billion dollars (almost 1.5 billion euros), 27 percent up from a year before. NXP manufactures chipsets for automotive monitoring systems and vehicle-to-vehicle communication. The chipsets are well secured against cyberattacks by integrated gateways that block connections between all networks within a car.
Other NXP chipset applications include identification, wired and wireless infrastructure, light sensors, industrial, consumer products and mobile. For example, the industrial and IoT market grew with sales of $682 million (€649 million).
Expectations Q2 2022
The market seems favourable for the second quarter. The latest results show that the revenue expected throughout 2022 is likely being made. Moreover, the demand for chipsets remains remarkably high. Very promising, says CEO Kurt Sieverts.