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Procurement Pro takes a look at the top news stories from January 2025. US stocks recoil following China’s DeepSeek AI startup reveal Chinese startup DeepSeek rocked global stock markets as it introduced its newest AI version, DeepSeek-R1, which has quickly rose to top app charts and Google Trend statistics, replacing ChatGPT’s longstanding dominance. This development
In a trading update for the third quarter ended 31 December 2024, RS Group says that group revenue decreased by 3% and by 1% on like-for-like basis. The company says that this reflects declining industrial production and PMI (Purchasing Managers Index) data, and weaker trading in the second half of December due to more extended
Avnet reported sales of $5.7 billion in Q2, down 8.7% year on year and up 1.1% sequentially, above the midpoint of the company’s guidance. Commented Avnet CEO Phil Gallagher (pictured): “Similar to last quarter, our results were primarily driven by stronger than expected performance in Asia, offset by weakness in the West with Europe presenting
ASML has published its 2024 fourth-quarter and full-year results. In Q4, ASML reported total net sales of €9.3 billion, with a gross margin of 51.7% and a net income of €2.7 billion. The company recorded quarterly net bookings of €7.1 billion, including €3.0 billion from EUV systems. For the full year 2024, ASML achieved total
Pickering Group has opened a new office in Penang, Malaysia, to better serve the needs of its expanding customer base throughout the Southeast Asia region. Staffed by a talented local team with many collective years of experience in the test & measurement industry, the branch office will provide enhanced support to customers and partners across
Solsta announces a new distribution partnership with Smiths Interconnect, a provider of electronic components, subsystems, microwave, optical and radio frequency products, and a business of Smiths Group plc. This collaboration brings together Solsta’s distribution network and industry expertise with Smiths Interconnect’s embedded transceivers and transceiver modules for advanced interconnect-based solutions. These products are targeting high-reliability
Mouser Electronics equips engineers with the tools to design innovative applications with its comprehensive automotive resource centre. The automotive industry is undergoing a rapid transformation, driven by technological advancements like reaching SAE Level 3 ADAS. Achieving this enables vehicles to be fully autonomous unless requested, with upgraded lidar, radar, and cameras. This level of autonomy
Rochester Electronics is partnering with NXP to provide extended lifecycle support for the QorIQ (Power Architecture-based) P-Series processors, a proven processor product. NXP introduced the P-Series 2008 as a migration path for its popular PowerQUICC processors. The P-Series was based on a Power Architecture e500 CPU core. The initial selection offered single and dual-core solutions
Georg Steinberger, Chairman of the Board and founding member of FBDi, the German component distributors association has died aged 64 following a heart attack. Mick Elliott writes: “Unbelievable” was the headline on the FBDI’s announcement, a statement endorsed by all those who knew this force of nature and his endless innovative ideas and critiques of
Farnell has announced a strategic partnership with PATLITE Europe, providing customers with greater access to the manufacturer’s comprehensive product portfolio across the EMEA region. Since 1947, PATLITE has offered equipment for the process and industrial automation industries. Innovative and durable design, backed by industry experience and a strong commitment to safety and security, have made