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NEVADA CITY, CA – Revenue at the 50 largest electronics manufacturing services companies grew 12.7% in 2024, totaling $477 billion and reversing a historic 2023 downturn, a new report says.

Revenue among the top 10 EMS firms made up 87.6% of sales of the top 50, down from 88.7% the prior year, added Manufacturing Market Insider. The remaining 40 companies saw slower gains, growing 3.5%.

Top-tier suppliers including Foxconn, BYD Electronics and Celestica led the growth, while others such as Pegatron, Wistron and Jabil posted double-digit declines. Mid-tier firms like DBG, Dixon Technologies, Fabrinet and Cyient filled the gap, driving industry recovery.

The Asia-Pacific region dominated with 74.7% of the revenue, while the Americas posted 20.4% growth and EMEA reached 2.5%, the latter buoyed by acquisition activity.

The minimum revenue to make the Top 50 list was $521 million, up $87 million from 2023.

PLAN-LES-OUATES SWITZERLAND — Cicor will acquire a manufacturing operation as part of a strategic supply agreement with Mercury Mission Systems.

The move supports Mercury’s plan to refocus on core engineering and systems integration by outsourcing part of its European electronics production. Cicor will absorb 34 employees and transition manufacturing to its facilities in Newport, UK, and Bronschhofen within 18 months.

Mercury committed to five years of product purchases from Cicor valued in the high double-digit million CHF range. Cicor said the deal strengthens its pan-European platform for mission-critical aerospace and defense electronics and follows its planned acquisition of MADES S.A.U. in Spain.

BANG KADI, PATHUM THANI, THAILAND -- SVI Public Co. and China Circuit Technology (Shantou) have agreed to a joint venture here where the two companies will build printed circuit boards. The JV, which is 75% owned by SVI, will produce multilayer and high‑density interconnect PCBs.

The firms are investing a combined 1.60 billion baht (about 48 million) in the JV, called Advanced Interconnection Technology Company Ltd.

A combination of company cash flow and bank loans are being used to finance the development.

LAS VEGAS – CB Tech has acquired Phoenix-based Reliable Circuits, expanding its inhouse capabilities to include advanced circuit board design, production, and assembly. Financial terms were not disclosed.

The move strengthens the water filtration firm’s supply chain and supports innovation in electronically controlled systems, CB Tech said in a press statement.

Reliable Circuits is a longtime supplier to CB Tech and serves other sectors including traffic management and aviation equipment. Following the deal, it will continue operating in Phoenix under CB Tech’s leadership.

“This partnership shows our commitment to providing topnotch water filtration solutions and highlights our dedication to supporting our affiliates, vendors, and customers around the globe,” said Zachary Rice, president, CB Tech.

Philip Carlson, production manager at Reliable Circuits, added, “Joining forces with CB Tech presents a great opportunity for growth and innovation. We look forward to the opportunities ahead and the role Reliable Circuits will play in CB Tech’s continued success.”

NOIDA, INDIA -- Foxconn is exploring a 300-acre land parcel in Greater Noida for a large-scale manufacturing facility, according to reports.

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TT Electronics reported revenue at its electronics manufacturing services segment fell 15% year-over-year to £252.8 million ($332 million), while adjusted operating profit rose 10% to £24.7 million.

The company, which also operates separate power and components business units, said persistint softness in demand for the latter has opened the door to a possible diversification of the unit.

Consolidated full-year 2024 revenue of £521.1 million ($664 million), down 15%, with adjusted operating profit falling 21% to £37.1 million ($47 million). The company cited strong gains in Europe and Asia, but performance was hampered by weak demand and operational issues in North America.

The company reported an operating loss of £23.5 million, which included a £52.2 million impairment charge. Free cash flow improved 16% to £27.7 million, and net debt fell 23% to £97.4 million.

Adjusted operating margin fell 40 basis points to 7.1% on a constant currency basis.

Guidance for 2025 sees adjusted operating profit between £32 million and £40 million, as the company continues its cost-saving plans amid demand uncertainty.

MILPITAS, CA – Global semiconductor equipment sales rose 10% in 2024 to $117.1 billion, setting a new high, according to SEMI’s latest report. Growth was led by wafer processing and back-end equipment, with the latter rebounding sharply due to rising demand for AI and high-bandwidth memory production.

China drove much of the momentum, with investments climbing 35% to $49.6 billion, making it the top regional market. Korea followed at $20.5 billion, up 3%, while Taiwan dropped 16% to $16.6 billion. North America saw a 14% increase to $13.7 billion, reflecting renewed domestic manufacturing efforts. Europe and Japan saw declines, down 25% and 1%, respectively.

SEMI president and CEO Ajit Manocha said the record-setting year was fueled by “regional investment trends, advancements in logic and memory, and AI-driven demand.”

FRAMINGHAM, MA – Global PC shipments reached 63.2 million units in the first quarter, a 4.9% increase year-over-year, according to IDC. Growth was fueled by strong commercial demand and efforts to accelerate shipments ahead of potential US tariff impacts, the research firm added.

“The ecosystem pulled forward deliveries to avoid early tariff exposure,” said IDC’s Jean Philippe Bouchard. He noted the April 2 tariff announcement could drive up costs and slow IT spending through the rest of the year.

Key drivers — like the Windows 10 refresh cycle and demand for AI-ready devices — remain in place. However, IDC warned that inflationary pressure from tariffs, however, plus coupled with broader economic uncertainty, could dampen demand in upcoming quarters.

IDC's Ryan Reith added that vendors are now reassessing manufacturing and logistics strategies. “Price increases on hardware are likely to be passed directly to consumers,” he said, pointing to ongoing volatility in trade policy and limited visibility in the supply chain.

Top 5 PC Vendors, Q1 2025 (YoY Growth):

  • Lenovo: 15.2M units (+10.8%)
  • HP: 12.8M (+6.1%)
  • Dell: 9.6M (+3.0%)
  • Apple: 5.5M (+14.1%)
  • ASUS: 4.0M (+11.1%)

Combined, these five vendors accounted for nearly 75% of the market. Lenovo led with 24.1% share, followed by HP at 20.2%.

TABY, SWEDEN – Mycronic’s Global Technologies division has acquired RoBAT, a UK-headquartered company specializing in high-frequency signal quality testing for bare board PCBs. The acquisition expands Global Technologies’ capabilities in advanced electrical test solutions.

Founded in 2001, RoBAT employs 27 people across offices in the United Kingdom, United States, and China. The company reported GBP 3 million ($1.28 million) in net sales for 2024.

“Computational power and communication will continue to evolve rapidly. The resulting high-speed applications require PCBs with good high frequency signal quality,” said Magnus Marthinsson, senior VP, Global Technologies, Mycronic.

“RoBAT’s offering is very exciting and particularly relevant for AI server applications,” added Jochen Kleinertz, head of the PCB Test business line.

RoBAT will be integrated into the PCB test business line within the Global Technologies division.

TAIPEI – Foxconn reported first-quarter revenue of T$1.64 trillion ($49.5 billion), its highest on record, driven by strong demand for cloud and networking products used in AI applications. The figure marked a 24.2% increase from a year earlier.

The company said consumer electronics revenue, including iPhones, was flat year-on-year. March revenue reached T$552.1 billion, a record for the month.

Foxconn expects growth in the current quarter compared to both the prior quarter and the same period last year. However, it warned that global political and economic developments require close monitoring, following new U.S. tariffs on Chinese and Taiwanese goods.

WASHINGTON - Worldwide semiconductor sales reached a record $54.9 billion in February, a 17.1% increase from $46.9 billion a year ago, according to the Semiconductor Industry Association. Sales slipped 2.9% from January’s $56.5 billion, the trade group added.

“Despite a slight decline in month-to-month sales, the global semiconductor industry hit its highest-ever monthly sales total for the month of February, driving strong year-to-year growth,” said John Neuffer, president and CEO, SIA. “Year-to-year sales increased by more than 17% for the 10th consecutive month, driven by a year-to-year sales increase of nearly 50% in the Americas.”

The Americas led growth with a 48.4% year-on-year increase, while other regions including Asia Pacific, China, and Japan also saw gains. Europe recorded an 8.1% decline. The monthly decrease in February sales affected all major markets, with the Americas falling the most at 4.6%.

ATLANTA-- Sales sentiment for electronic components remained stable in March, with the Electronic Component Sales Trend (ECST) index declining 0.7 points sequentially to 112.5, the Electronic Components Industry Association said today.

The forecast for April indicates a slight dip to 111.3, according to the latest ECIA survey.

Despite the minor decrease, industry sentiment remains positive. "The sustained sales momentum is encouraging as 2025 progresses," said ECIA chief analyst Dale Ford. Expectations for component categories in April range closely between 108.4 and 112.9, reinforcing optimism for continued demand.

The ECST survey, conducted monthly and quarterly, tracks short-term industry expectations across the electronics component supply chain. It covers sales trends, product lead times, cancellations, and decommits across major component categories, semiconductor subcategories, and key end markets.

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