In addition, the declining sales figures of the European and especially the German automobile manufacturers in the past half-year as a result of the switch to the WLTP approval process had an impact on Osram's sales.
Osram's LED division, namely the Osram Opto Semiconductors business unit, had experienced rapid growth rates in recent years, which at times amounted to 24%. Due to the high demand and the associated increase in production, the company had invested heavily in the expansion of capacities and hired many new employees for this purpose. In the second half of the past fiscal year, sales growth had recently slowed to almost zero. As the company now announced in an ad hoc report, the first quarter, which had already been announced with a percentage decline in sales in the high single digits, was even weaker than originally expected.