Philip Gallagher on market strategy
From Interview mit Phil Gallagher, Avnet: „Europa ist für uns nach wie vor ein Sweetspot“ · · Markt&Technik
“Europe is still sweet spot for us and is critical to Avnet's success in the long haul. We've been around for 103 years as a corporation and Europe is critical to us.”
On , Philip Gallagher, Chief Executive Officer, President of Electronic Components, Member of Executive Board & Director at AVNET INC, spoke about market strategy during Interview mit Phil Gallagher, Avnet: „Europa ist für uns nach wie vor ein Sweetspot“ on Markt&Technik.
About Philip Gallagher
In a December 2024 interview at the Electronica trade show, Gallagher stated that Europe remains a "sweet spot" and is "critical" to Avnet's long-term success, despite current market softness. He described the industrial and automotive markets as "a little soft" with excess inventory needing to be burned off, but noted that Avnet is "not in it for the short term." Gallagher said he believed the market in Europe was "close to the bottom" and forecast that the market would begin to turn around in the second half of 2025, though he added he did not expect a "rocket ship" recovery. He also noted that defense and aerospace were performing well. Earlier in 2024, Gallagher emphasized Germany's importance to Avnet, stating that roughly 50% of the company's European business comes from Germany. He highlighted Avnet's investment in a new warehouse and logistics center in Bernburg, Germany, which he described as "one of Avnet Inc's largest single investments" and which is expected to open around mid-2025. Gallagher also discussed the company's expansion in Freiburg, where Avnet is doubling its manufacturing capacity for embedded systems. In a separate interview, he commented on supply chain dynamics, noting that some customers are "moving around" to Vietnam rather than pulling out of China entirely.