Win source brings new industry news to customers, and work with us to explore new perspectives and trends from industry information. 

Below are news flashes for the week starting February 19 , 2024.

1. Billions Await Distributors in Repair Market's New Opportunity

Europe and the US push "right to repair" laws to extend electronic product lifespan and reduce waste. Manufacturers must grant repair rights, boosting a rapidly growing global repair market. Consumers seek repair services, while manufacturers extend software support. This trend offers distributors a chance to meet demand and promotes environmental sustainability by reducing electronic waste.

2. ASML Achieves 30.2% Increase in Annual Net Sales, Aiming for 0.7nm Technology by 2030

ASML, the top lithography systems manufacturer, sees steady demand despite chip market warnings. They note signs of semiconductor market recovery, but caution geopolitical risks. ASML's CFO remains optimistic about long-term trends like AI and energy transition. Recently, ASML delivered a cutting-edge lithography machine to Intel, promising advancements in chip manufacturing below 2nm, potentially boosting Moore's Law. Research on the next-gen Hyper NA lithography machine aims to further enhance chip production by 2030.

3. Panasonic Energy Signs Multi-Year Graphite Material Procurement Agreement with NMG

Panasonic Group expands North American EV battery production amid global EV demand surge. Panasonic Energy signs graphite supply deal with NMG to bolster regional supply chain sustainability. Deal enables NMG graphite production in Quebec for Panasonic's North American operations. Panasonic Energy aims to halve carbon footprint by 2031. Plans $25 million initial investment and $150 million joint investment with NMG. LG Chem builds largest cathode material plant in Tennessee to meet US EV market demand.

4. Global Foldable Smartphone Shipments Expected to Reach 17.7 Million in 2024

Global foldable smartphone shipments surged to 15.9 million units in 2023, up 25% year-on-year, capturing 1.4% of the smartphone market. Expected to reach 17.7 million units in 2024, an 11% increase, with a slightly higher 1.5% market share. Slowdown attributed to low consumer retention and high prices. Market growth hinges on cost optimization and increased production of key components. Samsung maintains dominance with 60% projected market share in 2024, while Huawei's share may exceed 20%. Oppo and Vivo may abandon small foldable models, while Huawei eyes a 5G variant. Apple's potential entry could fuel market growth.

5. Automotive Parts Giant Forvia to Lay Off Ten Thousand Employees

European automotive parts supplier Forvia plans to lay off up to 10,000 employees over five years as part of its "EU-Forward" plan. This move aims to adapt to the global shift to electric vehicles, EU policies, declining European automotive sales, and the expansion of Asian electric vehicle manufacturers in Europe. Layoffs, natural attrition, and contract cancellations will affect around 13% of its workforce. The company expects sales between €27.5 billion and €28.5 billion in 2024. Other suppliers like Continental and Anglo American Platinum are also restructuring due to industry changes.

Resources:

1. https://www.esmchina.com/news/11386.html

2. https://www.esmchina.com/news/11474.html

3. https://www.esmchina.com/news/11488.html

4. https://www.esmchina.com/marketnews/47756.html

5. https://www.esmchina.com/news/11486.html

Disclaimer: The opinions, beliefs, and viewpoints expressed by the various authors and/or forum participants on this website do not necessarily reflect the opinions, beliefs, and viewpoints of WIN SOURCE or official policies of WIN SOURCE.