Philips Chip Factory Rebrands as Xiver Amid Financial Challenges
Eindhoven, Tuesday, 7 January 2025.
Philips has restructured its chip manufacturing division, now named Xiver, to revitalize operations and retain a strategic foothold in Europe’s semiconductor market.
Strategic Transition in European Semiconductor Manufacturing
The newly independent company Xiver, led by John van Soerland and Kees Wesdorp, emerges from Philips’ semiconductor division with ambitious plans to transform its financial trajectory [1]. The transition, announced on January 6, 2025, comes after the division reported revenues of €17 million against operational costs of €25 million in 2023 [1]. This restructuring is particularly significant as Xiver will become Europe’s only independent MEMS (Micro-Electro-Mechanical Systems) foundry not under Chinese ownership [1].
Financial Backing and Future Prospects
The venture has secured backing from Cees Meeuwis, known for his previous role as chairman of NAC football club [1]. Despite current financial challenges, Xiver has set a clear target to achieve profitability by 2026 [1]. This timeline reflects the company’s strategic planning and commitment to maintaining European semiconductor manufacturing capabilities [GPT].
Strategic Importance for European Technology Sector
The establishment of Xiver as an independent entity represents a crucial development for Europe’s semiconductor industry [GPT]. With 8.000 million in operational losses to overcome from 2023 [1], the company’s transformation into a profitable enterprise will be closely watched by industry observers. The retention of MEMS manufacturing capabilities within European ownership comes at a time when semiconductor independence has become increasingly important for technological sovereignty [GPT].