Knocking Down the Bone Pile: Revamp Your Components with BGA Reballing
Global Sourcing Spotlight: Balancing Speed and Flexibility Without Sacrificing Control
SMT Perspectives & Prospects: Artificial Intelligence Part 6: Data Module 1
IMI Reports $566 Million Revenues in First Half of 2024
August 2, 2024 | IMIEstimated reading time: 1 minute
Integrated Micro-Electronics, Inc. (IMI), a global leader in electronics manufacturing services, announced its financial results for the first half of 2024, highlighting strategic initiatives amidst challenging market conditions.
IMI reported group revenues of US$566 million for the first half of 2024, reflecting an 18% decline compared to the same period last year. This decrease is partly attributed to the divestment of STI, which was still part of the group in early 2023. The delayed ramp-up of new projects also contributed to lower utilization levels, resulting in a 1H gross margin of 8.5%. While the wholly-owned subsidiaries have remained net positive, non-core activities continue to face challenges for the period. The group reported a net loss of US$8.8 million for the first half of 2024.
Market softness in the industrial sector has affected IMI's Philippine operations, with reduced demand from end markets delaying customer launches of new models as the supply chain continues to trim down existing inventory levels. In response, IMI continues to optimize its customer portfolio by reducing involvement in lower-margin projects, aiming to enhance profitability and focus on higher-value opportunities within its pipeline. Rightsizing initiatives have helped mitigate revenue declines as corporate structures are realigned with current business dynamics.
Louis Hughes, CEO of IMI, commented, "We have initiated various activities aimed at fortifying our financial health, enhancing operational effectiveness, and delivering greater value to our stakeholders. These measures include streamlining operations through simplified organizational structures to enhance decision-making agility. We are also focused on eliminating inefficiencies to lower operational costs without compromising the manufacturing quality that defines IMI's reputation as a leader in the EMS space. Our management teams are actively leveraging IMI's core competencies by sharpening focus on target business areas and reallocating resources toward high-growth, high-margin segments."
IMI remains committed to navigating market challenges with resilience and strategic foresight, ensuring continued innovation and customer satisfaction across its global operations.
Share on:
Testimonial
"The I-Connect007 team is outstanding—kind, responsive, and a true marketing partner. Their design team created fresh, eye-catching ads, and their editorial support polished our content to let our brand shine. Thank you all! "
Sweeney Ng - CEE PCBSuggested Items
China Expands Rare Earth Export Restrictions, Tightening Grip on Global Supply Chains
10/16/2025 | I-Connect007 Editorial TeamChina sharply expanded its rare earth export restrictions on Oct. 9, adding additional elements and refining technologies to its control list while imposing stricter rules on foreign users in the defense and semiconductor industries.
HT Global Circuits Adds Two atg Luther & Maelzer Flying Probe Test Systems
10/15/2025 | atg Luther & Maelzer GmbHAtg Luther & Maelzer GmbH, a leading supplier of electrical testing solutions for the PCB industry, and IEC USA, a distributor of consumables, equipment, and services in the North American PCB market, confirm the order for high-speed bare board testing technology.
Episode 6 of Ultra HDI Podcast Series Explores Copper-filled Microvias in Advanced PCB Design and Fabrication
10/15/2025 | I-Connect007I-Connect007 has released Episode 6 of its acclaimed On the Line with... American Standard Circuits: Ultra High Density Interconnect (UHDI) podcast series. In this episode, “Copper Filling of Vias,” host Nolan Johnson once again welcomes John Johnson, Director of Quality and Advanced Technology at American Standard Circuits, for a deep dive into the pros and cons of copper plating microvias—from both the fabricator’s and designer’s perspectives.
The Marketing Minute: Marketing With Layers
10/15/2025 | Brittany Martin -- Column: The Marketing MinuteMarketing to a technical audience is like crafting a multilayer board: Each layer serves a purpose, from the surface story to the buried detail that keeps everything connected. At I-Connect007, we’ve learned that the best marketing campaigns aren’t built linearly; they’re layered. A campaign might start with a highly technical resource, such as an in-depth article, a white paper, or a podcast featuring an engineer delving into the details of a process. That’s the foundation, the substance that earns credibility.
Elementary, Mr. Watson: High Power: When Physics Becomes Real
10/15/2025 | John Watson -- Column: Elementary, Mr. WatsonHave you ever noticed how high-speed design and signal integrity classes are always packed to standing room only, but just down the hall, the session on power electronics has plenty of empty chairs? It's not just a coincidence; it's a trend I've observed over the years as both an attendee and instructor.