Infineon CEO: We expect chip prices to rise significantly

VILLACH, Austria (Reuters) - Infineon CEO Reinhard Ploss said on Friday that he expected silicon chip prices to rise significantly, adding that semiconductor makers needed to cover the cost of investments to meet booming demand.

"We expect significant price increases," Ploss told a news conference at an opening ceremony for Infineon's new power-chip plant in Villach, Austria.

Ploss added that Infineon would not sell to the highest bidder at a time when customers were willing to pay astronomical prices. "We are a reliable partner when things go up and when they go down," he told reporters.

(Reporting by Alexandra Schwarz-Goerlich, Writing by Douglas Busvine, Editing by Thomas Escritt)