Avnet Fiscal Q1 Sales Drop 9%

Avnet, Inc. (Nasdaq: AVT) today announced results for the first quarter ended September 28, 2019. Fiscal First Quarter Key Financials Sales of $4.6 billion were in line with guidance, compared with $5.1 billion a year ago, as industry-wide softness over the past year has impacted historical seasonality, spanning all geographies. GAAP diluted earnings per share…

Texas Instruments Ends WT Micro and WPG Relationships

Texas Instruments Inc. has further pared its distribution channel, notifying global distributor World Peace Group (WPG) and Asia-Pacific distributor WT Micro that it was terminating those relationships, effective December 2020. TI told global distributor Avnet Inc. last week that it was ending their franchise agreement. The latest announcements are consistent with the evolution of TI’s…

Avnet Launches Store on Alibaba’s Chinese B2B Site

Avnet Inc. is expanding its offerings in China by launching a super store on Alibaba Group’s China-focused B2B purchasing and wholesale marketplace 1688.com. Through an alliance with Alibaba Cloud, the electronics distributor will also enable services such as IoT prototyping. As China’s largest wholesale platform for industrial products, 1688.com is home to more than 10…

Avnet to Acquire Witekio

Leading global technology solutions provider Avnet (Nasdaq: AVT) has signed an agreement to acquire Witekio (formerly known as Adeneo Embedded). Witekio is a privately held company with expertise in software and embedded systems that helps developers overcome the technical challenges and complexity of developing Internet of Things (IoT) solutions. Today’s announcement furthers Avnet’s end-to-end IoT…

Avnet Allies With Trusted Objects on IoT

Leading global technology solutions provider Avnet (Nasdaq: AVT) has entered into a strategic alliance with Trusted Objects, a software company specializing in the Internet of Things (IoT) security, to bring to market a scalable end-to-end security solution for low-power IoT devices. The relationship provides IoT customers with the ability to comprehensively secure their devices while…

ECIA, distributors

Top Distributors Exit ECIA to Form Global Association

Three of the industry’s biggest distributors – Arrow Electronics Inc., Avnet Inc. and Electrocomponents plc – have withdrawn from the Electronic Components Industry Association (ECIA), marking an historic, structural change in the 9-year-old  trade organization. A new group, the Global Electronics Distributor Association (GEDA), will be formed within the next 90 days, according to an…

Avnet Distribution Center Becomes One of the Largest FTZs in Arizona

Leading global technology solutions provider Avnet (Nasdaq: AVT) has secured Foreign-Trade Zone authorization from the United States Bureau of Customs and Border Protection (CBP) for its McKemy Distribution Center in Chandler, Ariz. The designation reduces tariff recovery fees for its international customers as well as for domestic customers shipping abroad. Foreign-Trade Zone authorization also increases…