Onsemi has revealed its financial performance and other achievements during the second-quarter of 2024.
Onsemi has reported revenue of $1.735 billion as compared with $2.094 billion with gross margin of 45.2 percent during the second-quarter of 2024. A 17 percent drop in revenue was due to poor demand from automotive segment.
Automotive customers contributed $906.9 million of its total revenue, while $468 million came from Industrial and $360.3 million from others.
Onsemi has generated sales revenue of $835.2 million (down 15 percent) from PSG (Power Solutions Group), $647.8 million (down 18 percent) from AMG (Analog & Mixed-Signal Group), and $252.8 million (down 22 percent) from ISG (Intelligent Sensing Group).
Onsemi has generated 51 percent of its sales revenue from Asia Pacific, 24 percent from Europe, 19 percent from Americas and 7 percent from Japan.
Onsemi has generated 45 percent of its sales revenue from customers directly and 55 percent from distribution.
Onsemi is targeting $1.7 billion – $1.8 billion during the current quarter.
Hassane El-Khoury, president and CEO, Onsemi, said: “As reflected by our recent supply agreement with Volkswagen Group, we also continue to strengthen our silicon carbide leadership position in automotive as we ramp production with leading global OEMs in Europe, North America and China.”
Onsemi recently unveiled complete power solution to improve energy efficiency for data centers.
Latest Onsemi 7th Gen IGBT modules simplify design and reduce costs for renewable energy applications.
Recently, Onsemi has selected the Czech Republic to set up silicon carbide production for advanced power semiconductors.
Capex of Onsemi has touched $154.5 million in Q2 2024. Onsemi’s Capex in 2023 touched $1,575.6 million.
Onsemi says top 20 customers represent ~40 percent of revenue and each buy ~600 products on average.
Some of the customers of Onsemi include: Lenovo, Sony, Delta, LG Electronics, Philips, Dell, Asus, Panasonic, Magna, Samsung, Cisco, Google, Microsoft, Nvidia, Hyundai, KIA, Siemens, Bose, Amazon, Hitachi, ABB, BYD, Denso, Kyocera, ZTE, Fujitsu, GigaByte Technology, Logitech, Bosch, Huawei, Sungrow, among others.
Baburajan Kizhakedath
