BERLIN-Technology giant Siemens AG reported net income increasing to $1.4 billion in its second quarter, up from the $673 million it reported in the same quarter last year. The firm said the increase was largely due to the sale of its stake in chipmaker Infineon Technologies AG.
“I am pleased with our overall performance for the second quarter,” said Heinrich v. Pierer, the company’s chief executive officer. “We progressed well in the groups and largely hit our earnings targets. The same goes for sales and orders in a still-challenging macroeconomic environment. This shows we have moved further along the right path toward achieving our operational goals.”
In the company’s Information and Communication Mobile division, Siemens nearly doubled its profit year over year to $129 million. The company’s Mobile Networks business led the way with $90 million in profits. Siemens Mobile Phones business increased profits to $15 million, up from the $2 million it scored in the same quarter a year ago. The company said it sold 12.8 million mobile phones in the quarter, up from the 8 million it sold in the same period a year earlier.
