Blog Coverage: Arrow Electronics Collaborates With AIRmaker; Set to Enable Sustainable Businesses for IoT Startups
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LONDON, UK / ACCESSWIRE / May 31, 2017 / Active Wall St. blog coverage looks at the headline from Arrow Electronics, Inc. (NYSE: ARW) as the Company announced on May 29, 2017, a collaboration with AIRmaker, a Singapore-based Internet of Things (IoT) accelerator. As a technology advisor, Arrow Electronics will enable AIRmaker program startups to turn more efficient and production in the idea-to-impact product journey by surpassing technical challenges and harnessing critical IoT Technology to convert a design into a product ready to be manufactured at different scales. Register with us now for your free membership and blog access at:
One of Arrow Electronics' competitors within the Electronics Wholesale space, Littelfuse, Inc. (NASDAQ: LFUS), reported on May 03, 2017, its financial results for Q1 2017 which ended on April 01, 2017. AWS will be initiating a research report on Littelfuse in the coming days.
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Under terms of the collaboration, Arrow Electronics will offer AIRmaker's program participants seamless end-to-end technology, design-to-manufacturing expertise, and enhanced support at overcoming technical challenges. The portfolio includes a complete range of collaborative online e-tools and probably, one of the world's largest online databases of reference designs and component information via Arrow Electronics' ecommerce sites.
These startups are set to gain access to Arrow Electronics' professional consultancy and technical expertise throughout the development cycle, including the steps from the formulation and proof-of-design concept, component sourcing, rapid prototyping, and testing the system for integration and pre-manufacturing verification.
The IoT Sector
The IoT startup sector is viewing a lot of development recently in the Asia/Pacific region, where Arrow Electronics is dedicated to assisting IoT startups to surpass key barriers and develop a connection with the ecosystem players to guide the teams along the path to innovation entrepreneurship and social impact. According to IDC, Asia/Pacific is set to lead the IoT revolution, with the number of connected devices expected to increase from 3.1 billion to 8.6 billion by 2020. The growth will create a $583 billion market opportunity, which in turn, is quite attractive to both Arrow Electronics and AIRmaker.
In another survey conducted by the Telenor Group, about a third or 38% of the technology enthusiasts are about to launch an IoT startup in FY17. The factor is the highest among different startup trends and offers both AIRmaker and Arrow Electronics the opportunity to expand their IoT startup offerings in Asia. The Company's global components Q1 FY17 sales were $4.06 billion, surging 10% y-o-y from the same period in FY16. Asia/Pacific components sales grew 17% y-o-y for Q1 FY17, while the Europe components sales surged by 6% from Q1 FY16.
Arrow Electronics
Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company currently serves as a supply channel partner for about 125,000 original equipment manufacturers, commercial customers and contract manufacturers, through a global network of about 465 locations across 90 countries.
Arrow Electronics is probably the only global technology Company capable of providing comprehensive, sensor-to-sunset full IoT product lifecycle solutions. Hence, the Company is well positioned to advise the biggest names in technology and startups along the IoT production journey. The Company has been supplying key components of IoT infrastructure and tools for device management and data analysis.
Earnings Highlights
Arrow Electronics recently reported its Q1 FY17 results on May 04, 2017. The Company reported net income of $114 million for Q1 FY17 versus $106 million for Q1 FY16. Net sales in Q1 FY17 stood at $5.76 billion which was 5% higher than $5.47 billion sales for Q1 FY16.
Stock Performance
On Tuesday, May 30, 2017, the stock closed the trading session at $75.53, slightly up 0.84% from its previous closing price of $74.90. A total volume of 275.05 thousand shares have exchanged hands. Arrow Electronics' stock price surged 4.61% in the last three months, 10.54% in the past six months, and 17.83% in the previous twelve months. The Company's shares are trading at a PE ratio of 13.02. At Tuesday's closing price, the stock's net capitalization stands at $6.74 billion.
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