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Renesas sees 'solid growth' in 2022, led by automotive chips

Profit triples last year, due to stockpiling demand amid semiconductor shortage

Demand for automotive chips will be strong in 2022, as auto production is expected to bounce back from supply constraints last year.   © Reuters

TOKYO -- Japanese chipmaker Renesas Electronics expects solid growth in revenue and profits in 2022 following a robust performance last year, amid a global semiconductor shortage.

"We expect continued solid growth for this year," said CEO Hidetoshi Shibata in an earnings call on Wednesday.

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