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Arrow Electronics (ARW) Aids Oyika With Sustainable Solutions

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Arrow Electronics (ARW - Free Report) announced that it is helping its long-time client, Oyika, in rolling out battery charging stations in Southeast Asian cities to enable a new generation of clean and silent electric motorcycles.

Arrow has helped Oyika to develop a smart battery exchange system at convenience stores, which is managed with a mobile application. It will help Oyika to replace millions of petroleum-powered motorbikes in less time.

Arrow is working on multiple areas of Oyika's integrated solution, such as design engineering for the new smart battery and power management, 4G IoT telematics, component sourcing, smart battery monitoring, and GPS-enabled security and safety.

Previously, ARW had also helped Oyika develop a smart battery ecosystem for electronic motorbikes through computing, power management and IoT solutions.

Arrow, with its vast international network, continues to help businesses access the latest technologies and connect to world-class suppliers.

Arrow’s Expanding Clientele & Partnerships to Drive Growth

The company is riding on an expanding clientele and a strong partner base, which are expected to drive top-line growth in the near term. Currently, Arrow, a Zacks Rank #4 (Sell) company, is guiding more than 210,000 leading technology manufacturers and service providers with its solutions.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Arrow's diverse portfolio includes the whole technological landscape, helping clients develop, manufacture, and manage forward-thinking products that make the benefits of technology available to a wide section of people.

In the past three months, Arrow Electronics’ shares have returned 1.4% compared with the Zacks Computer & Technology sector’s rise of 11.9%. Its prospects are enhanced by the recent developments in its technologies for supply chain, design engineering and more.

Arrow Electronics’ clients include Bharat Pi, Qualcomm Technologies and others.

It recently teamed up with Bharat Pi to provide engineering support and to design and build enterprise-grade IoT development boards that deliver benefits of reliability, quality and scalability to millions of smart and connected devices.

Arrow also collaborated with Qualcomm Technologies to provide its Edge Labs solutions to customers and help them accelerate the development of connected intelligent edge devices based on solutions from Qualcomm Technologies.

As part of expanding its partner base, Arrow partnered with several companies, including NVIDIA (NVDA - Free Report) , Dell Technologies (DELL - Free Report) , Intel (INTC - Free Report) , Advantech and many more.

Arrow has a longstanding relationship with NVIDIA. It has helped NVIDIA’s partners with the knowledge and expertise needed to sell more solutions across several sectors and build cutting-edge visualization and artificial intelligence (AI) solutions.

Arrow’s partnership with Dell helps companies accelerate innovation with next-generation server, storage, client and edge technologies, extend their product lifecycles, and lower the total cost of ownership by streamlining operations.

The Arrow-Intel Partnership is based on close collaboration on the most recent technologies and access to Intel's engineering and support teams. Arrow's logistics and deployment capabilities manage parts, calls and on-site service, allowing Intel users to deliver end-user support without stocking inventory and hiring personnel.

All the abovementioned partnerships to expand clientele are expected to strengthen the company's overall performance in the near term.

The Zacks Consensus Estimate for Arrow Electronics’ fiscal 2023 revenues is pegged at $33.08 billion, indicating a decline of 10.9% year over year, possibly due to currency headwinds and rising operating costs.

The consensus mark for fiscal 2023 earnings is pegged at $3.68, which has remained unchanged in the past 30 days.

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