Feb. 3, 2023 /SemiMedia/ -- Components distributor Arrow Electronics recently warned that demand from China will weaken as chip shortages ease and the semiconductor downturn hits.
"Demand for electronic components and related design, engineering and supply chain services remained generally healthy in the Americas and Europe, but soft in Asia, especially China," said Arrow President and CEO Sean Kerins.
"In 2022, we delivered the best financial performance in our company's history," Kerins said. "Throughout the year, we continued to invest to support our customers' needs, and we continued to grow and generate strong shareholder returns in the process."
"Hardware supply constraints are easing and demand remains strong across most of our key technology categories. We continue to see strength in cloud, ITaaS and enterprise software adoption. We are pleased with the business results and are confident in Arrow's business and long-term growth potential," Kerins said.
Kerins expects sales of $8.33 billion to $8.93 billion in the first quarter of 2023, with global component sales of $6.55 billion to $6.85 billion, down from the previous quarter.