Wk 05 Electronics Supply Chain Digest

Wk 05 Electronics Supply Chain Digest

Electronics Supply Chain Weekly Digest 2-2-24

DATAPOINT OF THE WEEK: S&P reported January Eurozone mfg. PMI of 46.6 vs 44.4 in December, reflecting a slower rate of deterioration compared to recent months with an easing decline in output and new orders, though Red Sea disruptions lengthened lead times.

Germany PMI showed a similar improvement to 45.5 in Jan from 43.3 in December, marking an 11-month high. In the US, S&P January PMI jumped to 50.7 vs 47.9 and ISM PMI jumped to 49.1 from 47.1 in December, reflecting an upturn in new orders and a slower contraction in output.

Employment in the US also rose for the first time in three months according to S&P’s survey. China government official PMI rose to 49.2 from 49.0 in December driven by an uptick in output which appears to be partially offset by continued decline in orders. In contrast, China’s private Caixin PMI was unchanged M/M in January at 50.8 signaling stable output and the first rise in new export orders since June, which has lifted business confidence to a nine-month high.



  • CPCA projects 700k NEV wholesale sales in Jan; warns demand slower than expected in the second half of the month
  • EV battery prices fell by 4–7% in January, decrease expected to slow down in February, says TrendForce
  • Germany Auto Association projects 1% decline in CY24 car sales including 9% decline in BEV sales
  • Italy plans car-sales incentives worth $1.1B in 2024
  • Some Chinese automakers hit by production issues with Huawei computing unit
  • GM sees stable US SAAR in 2024, but challenging environment in China
  • Tesla China offers cash discounts for some Model Y types
  • Tesla China-made vehicle shipments up 8% Y/Y in January
  • Volvo to stop funding Polestar as Geely readies bailout


  • Rockwell sees 2024 organic demand flat due to ongoing inventory digestion but noted orders inflected positively in Dec-Q
  • Brussels considers support for solar panel makers as Chinese imports flood market
  • Germany looks to end nature checks to aid offshore wind projects


  • Amphenol to acquire Carlisle’s Interconnect business for $2B in cash
  • Kyocera cut its FY outlook, projecting 26% decline in sales due to weak demand and muted recovery in smartphones


  • 350+ new Chinese semiconductor projects deployed in 2023, says TrendForce
  • Infineon and Honda sign MoU for product and design collaboration
  • Intel is delaying the start of its Ohio mega fab construction project according to WSJ
  • Microchip forecasts Mar-Q revenue down 40% Y/Y; initiates pay cuts and reduced factory loading
  • Rohm cuts its FY24 revenue forecast by 6% citing inventory adjustments in Industrial and Auto
  • SK Hynix planning to build HBM memory back-end facility in Indiana
  • According to reports in Asia, SK Hynix is delaying construction of its M15X memory fab due to demand uncertainty
  • Japan’s NTT, Intel to collaborate on cutting-edge chips using optical tech
  • U.S. to reportedly announce billions of dollars in subsidies for advanced chips in the coming weeks
  • Qualcomm projects 2024 smartphone units relatively flat with growth in 5G units; Thinks IoT demand bottomed in 4Q
  • Vanguard Foundry sees a 6-8% Q/Q decline in 1Q wafer shipments citing continued inventory adjustments.
  • Bain Capital attempts to restart WDC/Kioxia merger talks with SK Hynix
  • Wolfspeed 1Q outlook missed expectations on slowing SiC demand from Industrial and renewable energy markets


  • Apple guided to $5B Y/Y decline in 1QCY iPhone sales; concerns of weakening demand in China
  • Celestica gave upbeat 1Q outlook on AI investments offsetting slowdown in EV and EV chargers
  • Sanmina guided to flat Q/Q 1Q; sees correction across all markets with recovery from 3Q onwards

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