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Omdia research finds weak demand leads to declining quarter for semiconductor market

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LONDON, June 20, 2024 /PRNewswire/ — In the first quarter of 2024, the semiconductor market experienced approximately 2% decline falling to $151.5bn according to Omdia’s new Competitive Landscaping Tool. Typically, the first quarter of the year sees a downturn with the market dropping 4.4% by revenue following a strong fourth quarter being driven by seasonal demand. Most segments within the semiconductor market faced declines this quarter. The consumer segment was hit the hardest dropping 10.4% from 4Q23 while the industrial segment dropped 8.5% due to inventory adjustments. Even the automotive segment, which has seen steady growth for years, turned negative with a 5.1% decline in 1Q24.

The drops in these segments were offset by quarterly growth in the data processing division, which increased 3.7%, driven by a continuous high demand for NVIDIA’s chips and other AI-related products.

NVIDIA maintains its robust growth trajectory expanding its market share by more than two percentage points now representing 14.5% of the total semiconductor market revenue. Despite overtaking the traditional semiconductor leaders, Samsung and Intel who collectively hold 18.6% of the semiconductor market revenue, NVIDIA continues to gain ground. Additionally, with the resurgence of memory growth, SK Hynix and Micron rose in their market share rankings.

The automotive sector which initially resisted the industry-wide semiconductor market growth triggered by the COVID-19 pandemic, eventually succumbed to decline but quickly recovered. After 13 consecutive quarters of revenue growth, starting in 3Q20, the automotive segment experienced a slight downturn of 0.6% in 4Q23. However, the decline deepened in further in 1Q24 with a more substantial drop of 5.1% from the previous quarter. This downward trend reflects a broader deceleration in the demand for cars. The growth rate of EVs has tapered off in recent quarters, prompting a recalibration in semiconductor demand. Despite these challenges, the auto semiconductor market remains a promising long-term growth area, poised to climb over the next five years.

Omdia’s Global Semiconductor Manufacturing Market Tracker (GMMT) and the Pure Play Foundry Tracker (4Q23 reports), find that the combined factory utilizations (IDM + Foundry) reflect the overall trend within the semiconductor industry. After reaching a zenith in semiconductor demand during the COVID era’s early stages in 2022, utilization rates plummeted in 2H22 due to substantial softening in demand and record-high inventory levels. Despite semiconductor revenue experiencing growth throughout 2023, fab utilization rates have remained in the low 80% figures.

Omdia Chief Analyst Craig Stice said, “Utilization rates began a slight uptick in 2H23 as the market began seeking equilibrium. However, it has yet to materialize as traditional demand patterns have not fully emerged. Demand will continue to improve in 2H24, which should lead to inventory corrections consequently driving up factory utilization rates once again.”

ABOUT OMDIA

Omdia, part of Informa Tech, is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.

Fasiha Khan Fasiha.khan@omdia.com

 

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Identiv Partners with Tag-N-Trac to Market IoT Solutions for Cold Chain Tracking and Compliance

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New condition monitoring IoT solution enhances supply chain visibility for pharmaceutical companies

SANTA ANA, Calif., April 24, 2025 /PRNewswire/ — Identiv, Inc. (NASDAQ: INVE), a global leader in RFID- and BLE-enabled Internet of Things (IoT) solutions, today announced a strategic business development and marketing partnership with Tag-N-Trac, a full stack IoT platform provider for real-time supply chain visibility and traceability. This new partnership will initially focus on developing and commercializing specialized IoT solutions for cold chain tracking within the pharmaceutical industry supply chain.

The partnership combines Identiv’s advanced BLE smart labels with Tag-N-Trac’s RELATIVITY™ SaaS platform, an integrated IoT solution that delivers item-level visibility and actionable insights from origin to delivery. The RELATIVITY IoT platform brings together connectivity and data collection to deliver real-time visibility and traceability along with monitoring of ambient conditions such as item temperature and humidity, ensuring integrity and compliance for temperature sensitive products across the cold chain. The RELATIVITY platform is an industry-first single platform for “In warehouse” and “In transit” across globe visibility and traceability using purpose built smart labels and tags.

“As regulatory requirements and patient safety concerns grow, real-time data and visibility into the pharmaceutical cold chain have become critical,” said Kirsten Newquist, CEO at Identiv. “Our strategic partnership with Tag-N-Trac supports pharmaceutical customers with smart, scalable IoT solutions that meet rigorous regulatory standards while optimizing operational efficiency.”

Identiv’s smart labels continuously capture raw environmental data throughout a product’s journey to delivery. Tag-N-Trac’s platform transforms this data into real-time analytics for monitoring location, condition, and chain-of-custody status, making the technology platform well suited for high-value products such as vaccines, biologics, and other temperature-sensitive medications.

“Cold chain visibility is one of the most complex and vital challenges in pharmaceutical distribution and logistics,” said Venu Gutlapalli, CEO of Tag-N-Trac. “Together with Identiv, we’re delivering a comprehensive digital solution that gives pharmaceutical companies the confidence and data intelligence to manage temperature-sensitive products safely, efficiently, and in full compliance.”

This strategic partnership reaffirms both companies’ commitment to building a smarter, more connected pharmaceutical supply chain through specialized IoT solutions.

For more information about Identiv’s IoT solutions, please reach out to iotsales@identiv.com.

About Identiv
Identiv’s RFID- and BLE-enabled IoT solutions create digital identities for physical objects, enhancing global connectivity for businesses, people, and the planet. Its solutions, integrated into over 1.5 billion applications worldwide, drive innovation across healthcare, consumer electronics, luxury goods, smart packaging, and more. For additional information, visit identiv.com.

About Tag-N-Trac
Tag-N-Trac is building a modern, IoT-driven logistics tech stack solution by integrating multiple modes of hardware, software, and data technology that together can solve complex supply change and inventory management challenges. The founding team consists of senior executives with engineering leadership experience in Wi-Fi, Bluetooth, sensors, and positioning technologies. For more information visit https://www.tagntrac.com/.

RELATIVITY™ is a trademark of Tag-N-Trac, Inc., used with permission.

Identiv Media Contact:
press@identiv.com

Tag-N-Trac Media Contact:
contact@tagntrac.com

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OneDigital Financial Selects Broadridge Technology to Grow Retirement Practice and Enhance Advisor Efficiency

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NEW YORK, April 24, 2025 /PRNewswire/ — As retirement planning grows more complex and advisory firms seek scalable, enterprise-wide solutions, OneDigital Financial Services has selected Broadridge Financial Solutions, Inc. (NYSE: BR) to enhance advisor efficiency and support its expanding retirement business. The partnership brings Broadridge’s data aggregation, monitoring, reporting, and proprietary fund scoring capabilities to OneDigital’s national platform. Through this implementation, OneDigital’s advisors will gain more time to focus on helping plan sponsors run effective retirement programs, while the firm’s home office benefits from robust compliance oversight and business intelligence tools.

“We’ve made ongoing investments to bring our retirement capabilities to a new level to help firms accelerate modernization. Our solution is grounded in high-quality data aggregation and reporting that automate workflows and integrate a firm’s proprietary branding and fund scoring to make advisors more efficient and effective,” said John Faustino, Head of Data and Insight Product and Strategy and Fiduciary Solutions, Broadridge. “We are thrilled to support OneDigital in helping their advisors create better outcomes for working Americans as they grow and scale their practices.”

OneDigital will implement Broadridge’s suite of retirement solutions including; Retirement Data Aggregation, Business Intelligence services, Fiduciary Focus Toolkit, RFP director, Fee Benchmarker, and enterprise proprietary fund scoring solutions. OneDigital’s advisors will be able to take advantage of capabilities and benefits such as investment monitoring reports with integrated OneDigital proprietary fund scoring, improved fund evaluations; streamlined service provider searches; business management reporting; compliance oversight utilities; and access to aggregated data for held away plans across recordkeepers.

“As our retirement plan business continues to grow, Broadridge’s expertise and technology will support our retirement solutions at an enterprise-wide scale, which is crucial to the success of our business growth and development,” said Frank Zugaro, National Vice-President of OneDigital Retirement Solutions. “Now more than ever, we will be able to deliver comprehensive, actionable data and metrics, investment insights and reporting in the OneDigital brand powered by Broadridge’s fiduciary governance and enablement capabilities.”

Broadridge will also integrate with OneDigital’s existing capabilities, including allowing OneDigital to create sophisticated custom fund scoring capabilities to deliver investment research to the firm’s advisors, the ability to tailor clear and well-designed reports in OneDigital’s branding as well as deliver retirement plan data aggregation to support the business intelligence needs of management and compliance teams.

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.

Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com

About OneDigital

OneDigital’s team of fierce advocates helps businesses and individuals achieve their aspirations of health, success and financial security. Our insurance, financial services and HR platform provides personalized, tech-enabled solutions for a contemporary work-life experience. Nationally recognized for our culture of caring, OneDigital’s teams enable employers and individuals to do their best work and live their best lives. More than 100,000 employers and millions of individuals rely on our teams for counsel and access to fully integrated worksite products and services and the retirement and wealth management advice provided through OneDigital Investment Advisors. Founded in 2000 and headquartered in Atlanta, OneDigital maintains offices in most major markets across the nation. For more information, visit onedigital.com.

OneDigital ® is a registered trademark of Digital Insurance LLC (“OneDigital”) and is the marketing name used by Digital Insurance LLC and its affiliates to market their products and services. Each company has financial responsibility only for its own products and services. Investment advisory services offered through OneDigital Investment Advisors, a wholly owned subsidiary of OneDigital.

Media Contacts:

Broadridge
Caroline Wolf
Prosek Partners
cwolf@prosek.com 

OneDigital
Chelsea McKenna
chelsea.mckenna@onedigital.com

 

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SOURCE Broadridge Financial Solutions, Inc.

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Garmin launches Instinct 3 – Tactical Edition: Meet your new wingman

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Push the limits with two sizes, a rucking activity, AMOLED display, metal-reinforced bezel and built-in LED flashlights on all models

OLATHE, Kan., April 24, 2025 /PRNewswire/ — Garmin (NYSE: GRMN) today announced the Instinct® 3 – Tactical Edition, its newest lineup of tactical smartwatches, now offered with a crisp AMOLED display or solar-powered display for maximum battery life. Designed for any mission, Instinct 3 – Tactical Edition adds a metal-reinforced bezel for extreme durability, rucking activity for training, and built-in LED flashlight on both 45mm and 50mm units for low-light conditions. And with incredible battery life, it’s easy to stay prepared longer; the AMOLED model gets up to 24 days on a single charge in smartwatch mode, while the solar charging models can get unlimited battery life1.

“The Instinct series has proven itself time and again as the ultimate choice for individuals who need an advanced smartwatch they can depend on in any situation. With incredible battery life, an innovative rugged design and dedicated features for your tactical lifestyle, the Instinct 3 – Tactical Edition answers the call and dares to be more.”
 –Susan Lyman, Garmin Vice President of Consumer Sales and Marketing

Rugged yet bold

Featuring bolted construction with a metal-reinforced bezel, fiber-reinforced polymer case and scratch-resistant display, Instinct 3 – Tactical Edition sets a new standard for durability. The lineup is also built to MIL-STD 810 for thermal and shock resistance and is water-rated up to 100 meters. Plus, the built-in flashlight provides variable intensities, a green light to help protect natural night vision, and strobe mode to assist with location signaling in difficult terrain. For night operations, Night Vision Goggle (NVG) mode dims the display to levels functional to the primary user (including those wearing night optic devices) but nearly invisible to anyone else.

Dare for more with these Instinct 3 – Tactical Edition features

Rucking activity: The dedicated activity profile allows users to input pack weight to better understand the physical exertion associated with rucking. During various activities like trail running, hiking and walking, users can also add their pack weight.Ballistic solutions: All Instinct 3 – Tactical Edition units come with Applied Ballistics® solver (unlock fee required) and are compatible with the Applied Ballistics Quantum app. Dedicated tactical features: Purpose-built with dedicated features like Stealth Mode, Kill Switch, and Jumpmaster, Instinct 3 – Tactical Edition provides the tools for any mission.Two sizes: Available in a 45mm or 50mm solar-powered display and a 50mm AMOLED display.Increased solar efficiency: A larger, more efficient solar lens harnesses the power of the sun even better. Compared to Instinct 2 Solar, the new 50mm Instinct 3 – Tactical Edition solar model gets more than five times the battery life in GPS mode when solar charging.Multi-band GPS with SatIQ™ technology: Experience superior positioning accuracy while optimizing battery life.24/7 health and wellness monitoring: Track steps, heart rate, advanced sleep monitoring, wrist-based Pulse Ox2, heart rate variability (HRV) status and more3.Smart notifications: Receive emails, texts and alerts right on the watch when paired with a compatible Apple® or Android™ smartphone.

Lead the charge

Users can navigate confidently with a 3-axis compass, barometric altimeter and multi-band GPS with SatIQ™ technology, delivering superior positioning while optimizing battery life. Users can also pair their Instinct 3 – Tactical Edition with the Garmin Explore™ App to review more detailed maps, create waypoints and courses and more to stay on course.

In sensitive locations, users can utilize Stealth Mode, which turns off wireless communications but still collects distances traveled and biometric data without recording location data. Leveraging this feature allows the watch to be used – and even upload logged data – while concealing its location, which is typically visible through popular mobile training apps. If security becomes an issue, the watch’s Kill Switch wipes the device of all user memory. Other mission-focused features include a dual-position format, which simultaneously displays two sets of coordinates on a single screen, Jumpmaster, a preloaded tactical activity, and projected waypoints. 

Train for the mission

With sports apps like rucking, hiking, running, climbing, hunting, skiing and more, Instinct 3 – Tactical Edition is the ultimate wingman for any training experience. While in-field, TracBack® routing helps provide a route back to the starting point as well as reference points of known spots relative to that location. In addition to built-in sports apps for outdoor adventures, Instinct 3 – Tactical Edition is loaded with apps for activities like HIIT, cardio, indoor and outdoor track running, basketball and more.

Users can prepare for the next race, train for a milestone, or strive to improve overall fitness with Garmin Coach adaptive and prebuilt training plans for running and cycling. View an entire week of daily suggested workouts that adapt after every run or ride or create step-by-step workouts from more than 1,600 exercises in the Garmin Connect™ app, then send them directly to the watch. And track intensity minutes, VO2 max and recovery time to receive guidance on recommended recovery times to reduce fatigue and burnout.

Safety and tracking features include incident detection (during select outdoor activities) and Assistance, which can send a message with the user’s GPS location (if available) to emergency contacts when paired with a smartphone4.

Available to order on Garmin.com on April 30, the Instinct 3 – Tactical Edition AMOLED model has a suggested retail price of $599.99 while the solar charging models start at $499.99.

Engineered on the inside for life on the outside, Garmin products have revolutionized life for adventurers, athletes, off-road explorers, road warriors and outdoor enthusiasts everywhere. Committed to developing products that enhance experiences, enrich lives and help provide peace of mind, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. Visit the Garmin Newsroom, email our media team, connect with @garminoutdoor on social, or follow our blog.

1 Assumes all-day wear, 3 hours per day outside in 50,000 lux conditions.
2 This is not a medical device and is not intended for use in the diagnosis or monitoring of any medical condition; see Garmin.com/ataccuracy. Pulse Ox not available in all countries.
Activity tracking accuracy.
4 When paired with a compatible smartphone. For safety and tracking feature requirements and limitations, see Garmin.com/safety.

About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, Instinct, and TracBack are registered trademarks and SatIQ, Garmin Connect, and Garmin Explore are trademarks of Garmin Ltd. or its subsidiaries. Apple is a trademark of Apple Inc., registered in the U.S. and other countries. Android is a trademark of Google LLC. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 28, 2024, filed by Garmin with the Securities and Exchange Commission (Commission file number 0001-411180). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

MEDIA CONTACTS:
Rehan Nana
913-397-8200
media.relations@garmin.com

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SOURCE Garmin International, Inc.

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