Technology
Silicon Labs Reports Second Quarter 2024 Results
Published
2 years agoon
By
Wireless IoT leader delivers strong second-quarter growth
AUSTIN, Texas, July 24, 2024 /PRNewswire/ — Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, reported financial results for the second quarter, which ended June 29, 2024.
“Silicon Labs delivered another quarter of strong sequential growth, driven by a combination of design wins ramping to production in several key growth areas, and end customers working down their excess inventory,” said Matt Johnson, President and Chief Executive Officer at Silicon Labs. “Looking forward, we expect revenue growth to continue in the third quarter as excess inventory is further reduced, design wins continue ramping, and bookings improve.”
Second Quarter Financial Highlights
Revenue was $145 millionIndustrial & Commercial revenue for the quarter was $88 millionHome & Life revenue for the quarter was $57 million
Results on a GAAP basis:
GAAP gross margin was 53%GAAP operating expenses were $125 millionGAAP operating loss was $48 millionGAAP diluted loss per share was $(2.56)
Results on a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the below GAAP to Non-GAAP reconciliation tables were as follows:
Non-GAAP gross margin was 53%Non-GAAP operating expenses were $102 millionNon-GAAP operating loss was $25 millionNon-GAAP diluted loss per share was $(0.56)
Business Highlights
Due to popular demand, Silicon Labs is expanding its fifth annual Works With Developers Conference this fall with live events in San Jose, Hyderabad, and Shanghai. Each event’s agenda is tailored to regional market needs and covers key IoT topics like Matter, Smart Cities, AI and Machine Learning, and Security.Announced Silicon Labs’ new xG22E family of wireless SoCs, its first-ever family designed to operate within the ultra-low power envelope required for battery-free, energy harvesting applications. The new family consists of the BG22E, MG22E, and FG22E. As Silicon Labs’ most energy-efficient SoCs to date, all three SoCs will enable IoT device makers to build high-performance, Bluetooth Low Energy (LE), 802.15.4-based, or proprietary 2.4GHz. wireless devices for battery-optimized and battery-free devices that can harvest energy from external sources in their environments like indoor or outdoor ambient light, ambient radio waves, and kinetic motion.
Business Outlook
The company expects third-quarter revenue to be between $160 to $170 million. The company also estimates the following results:
On a GAAP basis:
GAAP gross margin to be between 54% to 56%GAAP operating expenses of approximately $123 million to $125 millionGAAP diluted loss per share per share between $(0.95) to $(1.25)
On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the reconciliation tables:
Non-GAAP gross margin to be between 54% to 56%Non-GAAP operating expenses of approximately $101 million to $103 millionNon-GAAP diluted loss per share between $(0.10) to $(0.30)
Earnings Webcast and Conference Call
Silicon Labs will host an earnings conference call to discuss the quarterly results and answer questions at 7:30 am CDT today. An audio webcast will be available on Silicon Labs’ website (www.silabs.com) under Investor Relations. In addition, the company will post an audio recording of the event at investor.silabs.com and make a replay available through August 24, 2024.
About Silicon Labs
Silicon Labs (NASDAQ: SLAB) is a leader in secure, intelligent wireless technology for a more connected world. Our integrated hardware and software platform, intuitive development tools, thriving ecosystem, and robust support make us an ideal long-term partner in building advanced industrial, commercial, home and life applications. We make it easy for developers to solve complex wireless challenges throughout the product lifecycle and get to market quickly with innovative solutions that transform industries, grow economies, and improve lives. silabs.com
Forward-Looking Statements
This press release contains forward-looking statements based on Silicon Labs’ current expectations. The words “believe”, “estimate”, “expect”, “intend”, “anticipate”, “plan”, “project”, “will”, and similar phrases as they relate to Silicon Labs are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Silicon Labs and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: the competitive and cyclical nature of the semiconductor industry; the challenging macroeconomic environment, including disruptions in the financial services industry; geographic concentration of manufacturers, assemblers, test service providers and customers in Asia that subjects Silicon Labs’ business and results of operations to risks of natural disasters, epidemics or pandemics, war and political unrest; risks that demand and the supply chain may be adversely affected by military conflict (including in the Middle East, and between Russia and Ukraine), terrorism, sanctions or other geopolitical events globally (including in the Middle East, and conflict between Taiwan and China); risks that Silicon Labs may not be able to maintain its historical growth; quarterly fluctuations in revenues and operating results; difficulties developing new products that achieve market acceptance; risks associated with international activities (including trade barriers, particularly with respect to China); intellectual property litigation risks; risks associated with acquisitions and divestitures; product liability risks; difficulties managing and/or obtaining sufficient supply from Silicon Labs’ distributors, manufacturers and subcontractors; dependence on a limited number of products; absence of long-term commitments from customers; inventory-related risks; difficulties managing international activities; risks that Silicon Labs may not be able to manage strains associated with its growth; credit risks associated with its accounts receivable; dependence on key personnel; stock price volatility; the impact of COVID-19 on the U.S. and global economy; debt-related risks; capital-raising risks; the timing and scope of share repurchases and/or dividends; average selling prices of products may decrease significantly and rapidly; information technology risks; cyber-attacks against Silicon Labs’ products and its networks; risks associated with any material weakness in our internal controls over financial reporting; and other factors that are detailed in the SEC filings of Silicon Laboratories Inc. Silicon Labs disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. References in this press release to Silicon Labs shall mean Silicon Laboratories Inc.
Note to editors: Silicon Laboratories, Silicon Labs, the “S” symbol, and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders.
Silicon Laboratories Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
Three Months Ended
Six Months Ended
June 29,
2024
July 1,
2023
June 29,
2024
July 1,
2023
Revenues
$ 145,367
$ 244,866
$ 251,742
$ 491,653
Cost of revenues
68,784
101,091
120,090
194,018
Gross profit
76,583
143,775
131,652
297,635
Operating expenses:
Research and development
85,909
85,902
166,559
175,298
Selling, general and administrative
38,695
40,706
72,248
85,597
Operating expenses
124,604
126,608
238,807
260,895
Operating income (loss)
(48,021)
17,167
(107,155)
36,740
Other income (expense):
Interest income and other, net
2,790
7,780
5,522
12,616
Interest expense
(263)
(1,596)
(772)
(3,252)
Income (loss) before income taxes
(45,494)
23,351
(102,405)
46,104
Provision for income taxes
36,663
12,338
36,278
20,091
Equity-method loss
—
(57)
—
(1,090)
Net income (loss)
$ (82,157)
$ 10,956
$ (138,683)
$ 24,923
Earnings (loss) per share:
Basic
$ (2.56)
$ 0.35
$ (4.33)
$ 0.78
Diluted
$ (2.56)
$ 0.33
$ (4.33)
$ 0.75
Weighted-average common shares outstanding:
Basic
32,124
31,614
32,018
31,786
Diluted
32,124
32,926
32,018
33,339
Non-GAAP Financial Measurements
In addition to the GAAP results provided throughout this document, Silicon Labs has provided non-GAAP financial measurements on a basis excluding non-cash and other charges and benefits. Details of these excluded items are presented in the tables below, which reconcile the GAAP results to non-GAAP financial measurements.
The non-GAAP financial measurements do not replace the presentation of Silicon Labs’ GAAP financial results. These measurements provide supplemental information to assist management and investors in analyzing Silicon Labs’ financial position and results of operations. Silicon Labs has chosen to provide this information to investors to enable them to perform meaningful comparisons of past, present and future operating results and as a means to emphasize the results of core on-going operations.
Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands, except per share data)
Three Months Ended
June 29, 2024
Non-GAAP Income Statement Items
GAAP
Measure
GAAP
Percent of
Revenue
Stock
Compensation
Expense
Intangible
Asset
Amortization
Termination
Costs
Non-GAAP
Measure
Non-GAAP
Percent of
Revenue
Revenues
$ 145,367
Gross profit
76,583
52.7 %
$ 412
$ —
$ —
$ 76,995
53.0 %
Research and development
85,909
59.1 %
10,217
6,061
902
68,729
47.3 %
Selling, general and administrative
38,695
26.6 %
5,215
19
106
33,355
22.9 %
Operating expenses
124,604
85.7 %
15,432
6,080
1,008
102,084
70.2 %
Operating income (loss)
(48,021)
(33.0 %)
15,844
6,080
1,008
(25,089)
(17.3 %)
Three Months Ended
June 29, 2024
Non-GAAP Loss Per Share
GAAP
Measure
Stock
Compensation
Expense*
Intangible
Asset
Amortization*
Termination
Costs*
Income
Tax
Adjustments
Non-
GAAP
Measure
Net income (loss)
$ (82,157)
$ 15,844
$ 6,080
$ 1,008
$ 41,176
$ (18,049)
Diluted shares outstanding
32,124
32,124
Diluted loss per share
$ (2.56)
$ (0.56)
* Represents pre-tax amounts
Unaudited Forward-Looking Statements Regarding Business Outlook
(In millions, except per share data)
Three Months Ended
September 28, 2024
Business Outlook
GAAP
Measure
Non-GAAP
Adjustments**
Non-GAAP
Measure
Gross margin
54% to 56%
— %
54% to 56%
Operating expenses
$123 to $125
$(22)
$101 to $103
Diluted loss per share
$(0.95) to $(1.25)
$0.85 to $0.95
$(0.10) to $(0.30)
**
Non-GAAP adjustments include the following estimates: stock compensation expense of $16.8 million, intangible asset amortization of $5.4 million, and the application of a long-term non-GAAP tax rate of 20%.
Silicon Laboratories Inc.
Condensed Consolidated Balance Sheets
(In thousands, except per share data)
(Unaudited)
June 29,
2024
December 30,
2023
Assets
Current assets:
Cash and cash equivalents
$ 240,834
$ 227,504
Short-term investments
98,336
211,720
Accounts receivable, net
41,212
29,295
Inventories
166,079
194,295
Prepaid expenses and other current assets
53,585
75,117
Total current assets
600,046
737,931
Property and equipment, net
139,397
145,890
Goodwill
376,389
376,389
Other intangible assets, net
47,374
59,533
Other assets, net
86,781
123,313
Total assets
$ 1,249,987
$ 1,443,056
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
$ 39,295
$ 57,498
Revolving line of credit
—
45,000
Deferred revenue and returns liability
3,323
2,117
Other current liabilities
57,495
58,955
Total current liabilities
100,113
163,570
Other non-current liabilities
56,845
70,804
Total liabilities
156,958
234,374
Commitments and contingencies
Stockholders’ equity:
Preferred stock – $0.0001 par value; 10,000 shares authorized; no shares issued
—
—
Common stock – $0.0001 par value; 250,000 shares authorized; 32,289 and 31,897 shares issued and outstanding at June 29, 2024 and December 30, 2023, respectively
3
3
Additional paid-in capital
39,232
16,973
Retained earnings
1,054,048
1,192,731
Accumulated other comprehensive loss
(254)
(1,025)
Total stockholders’ equity
1,093,029
1,208,682
Total liabilities and stockholders’ equity
$ 1,249,987
$ 1,443,056
Silicon Laboratories Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Six Months Ended
June 29,
2024
July 1,
2023
Operating Activities
Net income (loss)
$ (138,683)
$ 24,923
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation of property and equipment
13,152
12,441
Amortization of other intangible assets
12,160
12,904
Amortization of debt issuance costs
—
960
Stock-based compensation expense
29,455
31,377
Equity-method loss
—
1,090
Deferred income taxes
29,784
(6,403)
Changes in operating assets and liabilities:
Accounts receivable
(11,918)
(26,819)
Inventories
28,123
(45,064)
Prepaid expenses and other assets
20,723
32,963
Accounts payable
(19,341)
(30,003)
Other current liabilities and income taxes
(13,624)
(26,220)
Deferred revenue and returns liability
1,206
4,326
Other non-current liabilities
(6,703)
(1,975)
Net cash used in operating activities
(55,666)
(15,500)
Investing Activities
Purchases of marketable securities
(17,700)
(81,427)
Sales of marketable securities
34,538
339,555
Maturities of marketable securities
97,458
171,691
Purchases of property and equipment
(5,577)
(13,462)
Proceeds from sale of equity investment
12,382
—
Purchases of other assets
—
(215)
Net cash provided by investing activities
121,101
416,142
Financing Activities
Proceeds from revolving line of credit
—
80,000
Payments on debt
(45,000)
(536,124)
Repurchases of common stock
—
(201,095)
Payment of taxes withheld for vested stock awards
(15,213)
(16,310)
Proceeds from the issuance of common stock
8,108
7,785
Net cash used in financing activities
(52,105)
(665,744)
Increase (decrease) in cash and cash equivalents
13,330
(265,102)
Cash and cash equivalents at beginning of period
227,504
499,915
Cash and cash equivalents at end of period
$ 240,834
$ 234,813
View original content to download multimedia:https://www.prnewswire.com/news-releases/silicon-labs-reports-second-quarter-2024-results-302204803.html
SOURCE Silicon Labs
You may like
Technology
Cyble Appoints Cybersecurity Veteran Steve Ingram as Executive Vice President, US to Lead Market Expansion
Published
53 minutes agoon
September 11, 2026By
Former EY and PwC cyber leader transitions from Cyble’s Advisory Board to an operating role, bringing decades of cybersecurity, risk, law enforcement and enterprise leadership experience.
CUPERTINO, Calif., Sept. 11, 2026 /PRNewswire/ — Cyble, an AI-native cybersecurity company, announced the appointment of Steve Ingram as Executive Vice President, US, as Cyble accelerates growth in the US market.
Ingram will lead Cyble’s US business, with responsibility for accelerating growth, deepening customer and partner relationships, and building Cyble’s position in one of the world’s largest cybersecurity markets. He brings decades of experience across cybersecurity, risk, financial services, law enforcement and executive leadership.
Most recently, Ingram was EY’s Financial Services Cyber Leader for the Americas, driving growth and transformation across the firm’s cybersecurity practice serving financial services clients. Before EY, he spent 15 years as a partner at PwC, including leading its Asia-Pacific Cyber practice and serving on the ASEANZ Markets Council. Earlier in his career, he served with the Australian Federal Police.
Ingram has served on Cyble’s Advisory Board for two years, advising Cyble as the company expanded its portfolio and global presence. His transition to an operating role reflects Cyble’s investment in the US and focus on growth.
“Steve has been a trusted advisor to Cyble for two years, and we are excited to welcome him as our EVP, US,” said Beenu Arora, Co-Founder and CEO of Cyble. “He brings a rare combination of cybersecurity expertise, enterprise leadership and experience working with some of the world’s largest organizations. He knows our technology, people and business, and will bring that experience into an operating role to accelerate our growth.”
“Having spent the past two years advising Cyble, I’ve seen the technology, people and market opportunity up close,” said Ingram. “The US represents a significant opportunity for Cyble. I’m excited to move into an operating role, work directly with the team, customers and partners, and help build the US business.”
The appointment comes as Cyble expands its AI-native cybersecurity portfolio across threat intelligence, digital risk protection, endpoint security and agentic AI.
About Cyble
Cyble is an AI-native cybersecurity company delivering risk intelligence and decision support to enterprises and government organizations worldwide. Its solutions combine threat intelligence, digital risk protection and security operations to provide visibility and actionable insights.
For more information, visit www.cyble.com.
Media Contact
enquiries@cyble.com
+1 678 379 3241
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/cyble-appoints-cybersecurity-veteran-steve-ingram-as-executive-vice-president-us-to-lead-market-expansion-302876187.html
Technology
Fringe events at Automechanika Jakarta empower, connect and immerse participants in Indonesia’s automotive industry
Published
53 minutes agoon
September 11, 2026By
JAKARTA, Indonesia, Sept. 11, 2026 /PRNewswire/ — Automechanika Jakarta is making its debut from 24 to 27 September 2026 at Nusantara International Convention Exhibition (NICE). Bringing together more than 300 exhibitors from 16 represented markets across 20,000 sqm, the fair will cover the entire value chain, including Parts & Components, Electrics & Electronics, Accessories & Customising, Diagnostics & Repair, Automotive Manufacturing & Automation, and more. The exhibition offers a gateway into Indonesia, opening opportunities for international trade and development to support the advancement of the regional automotive supply chain.
Highlighting the event’s reach, seven country and region pavilions will comprise brands from Mainland China, the EU, India, Malaysia, Singapore, Taiwan, and Thailand.
Overall, exhibitors include leading global and local names such as Aisin, Akebono, Andritz, Astra Otoparts, Asuki, Bosch Service, Brembo, Denso, Elmos, Dharma Group, Drivol, Filtration Solution, Hella, Himawan Putra, Indoprima Group, KYB, Launch, Mahle, Mansons, Meiji Sangyo, Mobiletron, NSK, Pako Group, Reach, Sakura, Scantruck Singapore, Schaeffler, Schmaco, Seiken, SKF, Snap-on, Startec, TecAlliance, Teikin, Timur Raya, Toyopower, TriAlliance, TUV Rheinland, and more.
Beyond the show floor, a lineup of forums, workshops, and panel discussions are what will transform industry trends into tangible insights.
Automotive Mobility Solutions Conference
The conference connects Indonesia’s automotive development with global trends, covering electrification, Industry 4.0, AI-enabled mobility, fleet management, parts traceability in aftersales, and circular, low-emission operations. Sessions will deep dive into how AI-driven smart factories can eliminate production bottlenecks, battery degradation testing for repurposing or recycling, and integrating second-life battery storage with solar and wind power to stabilise Indonesia’s remote island grids, replace diesel generators, and expand rural electrification.
Supply Chain Collaboration Forum
The forum will cover the government’s ambition of becoming a regional vehicle manufacturing hub beginning with supply chain opportunities addressing how incentives encourage investment. GAIKINDO representatives are also set to discuss initiatives empowering local SMEs.
Tech & Skills Workshop and Xperience Zone
Technicians will engage in practical and theoretical training to keep pace with the evolving automotive industry and transition to the EV market. Attendees can gain immediate, hands-on experience in an interactive area where they can step into the role of a mechanic. Highlights include dent repair, spot welding, car polishing, plasma cutting, and VR spray-painting, helping workshops make informed purchasing decisions, refine operational techniques, and evaluate new revenue streams.
Business Matching Programme
Supported by a dedicated team and an advanced matchmaking system, the programme connects buyers with specific sourcing needs directly to exhibitors, helping participants build meaningful business relationships during the show.
autoFEST@JKT
The event brings automotive culture to life through interactive features, classic car displays, and live vehicle services. Highlights include AMJKT Grand Prix Cup (motorsport simulator racing), an outdoor Car Slalom Test, Auto Service Day offering complimentary wheel alignments and nitrogen tyre fills, and the Auto Bazaar for sourcing hard-to-find components.
For more information about visitor pre-registration, please visit www.automechanika-jakarta.com.
Automechanika Jakarta is organised by Messe Frankfurt (HK) Ltd and the Indonesian Automotive Parts & Components Industries Association (GIAMM).
View original content:https://www.prnewswire.com/apac/news-releases/fringe-events-at-automechanika-jakarta-empower-connect-and-immerse-participants-in-indonesias-automotive-industry-302876190.html
SOURCE Messe Frankfurt (HK) Ltd
Technology
Chandigarh University’s Computer Science Engineering Students Develop AI-Powered Platform to Detect Fraudulent Apps
Published
53 minutes agoon
September 11, 2026By
CSE students win ₹3 lakh at CyberShield Hackathon for this Generative AI innovation to combat fraudulent apps & banking malware services
CHANDIGARH, India, Sept. 11, 2026 /PRNewswire/ — Chandigarh University’s Computer Science Engineering (CSE) students have once again proven their brilliance on the national stage by securing second position in the national-level CyberShield Hackathon, organized by Bank of India in collaboration with IIT Hyderabad to solve AI, cybersecurity and banking-fraud challenges, winning a prize of Rs 3 lakh by providing innovative solution for harnessing Generative AI for automated reverse engineering, static and dynamic analysis and risk scoring of fraudulent mobile applications (APKs) and malware.
The Chandigarh University’s ‘Team Fi’, comprising of four third-year students of Bachelor of Engineering-CSE (IBM-Cyber Security) Danish Verma, Rahul Jaluthria, Varun Gupta and Avneet Kaur secured second position in the hackathon which attracted over 3000 team registrations from universities and higher educational institutions across India.
Among the 72 shortlisted teams, involving 232 participants, which presented their solutions and prototypes at CyberShield Hackathon in IIT Hyderabad, Team Fi of Chandigarh University – representing the Centre for Privacy and Security in Emerging Technologies (CPSET) at Chandigarh University’s Apex Institute of Technology-Computer Science Engineering (AIT-CSE) – was among the nine teams which advanced to the final round for first problem statement – harnessing Generative AI for automated reverse engineering, static and dynamic analysis, and risk scoring of fraudulent mobile applications (APKs) and malware.
Chandigarh University’s team secured the runner-up position in the CyberShield Hackathon with the prize money of Rs 3 lakh by building an AI-powered cybersecurity platform designed to assist in the analysis and investigation of suspicious Android applications.
“Our approach was to build an agentic AI infrastructure around this problem, moving beyond a conventional automated analysis pipeline and exploring how autonomous AI agents could coordinate different stages of cybersecurity analysis. Without going too deep into the technical implementation, our goal was to rethink how AI could be applied to a traditionally complex and highly manual cybersecurity workflow. So, the AI-powered cybersecurity platform built by our team automates several aspects of application security assessment and uses intelligent analysis to identify potentially malicious or suspicious behaviour, evaluate associated risks and generate meaningful insights for cybersecurity professionals. By bringing different stages of Android security investigation into a unified workflow, this project aimed to reduce manual effort, improve the consistency of analysis and help security teams investigate potential threats more efficiently while maintaining an evidence-driven approach,” said Team Fi’s Danish Verma.
“The on-site evaluation of the solution given by the participating teams was done by an impressive panel of judges and experts from diverse backgrounds and organisations including EY, C-DAC, McKinsey, Bank of India, and IIT Hyderabad. After the final evaluation, Team Fi secured 2nd place nationally in problem statement 1 to win Rs 3 lakh prize. For our team, Rs 3 lakh prize was more than just a monetary award. It was a tangible recognition of the work, experimentation and persistence that went into building our solution and taking it through every stage of the competition. Starting from an idea and seeing it survive four rounds of online evaluation, a national-level shortlist, an on-site technical evaluation and finally the last round at IIT Hyderabad made the achievement especially meaningful. The problem statement gives our team an opportunity to look at cybersecurity through a different lens and explore what could happen when agentic AI is designed around real-world security problems. Presenting that vision to experts from EY, C-DAC, McKinsey, Bank of India and IIT Hyderabad, and ultimately being recognised among the top solutions, reinforced our belief that ambitious ideas are worth pursuing when you are willing to keep building, testing and improving them,” he added.
Congratulating CU students on their achievement, Deepinder Singh Sandhu, Senior Managing Director, Chandigarh University said, “We are very proud of these students for their dedication, expertise and collaborative spirit for pushing the boundaries of innovation and making meaningful contributions to the advancement of cybersecurity solutions in banking. Chandigarh University remains dedicated to offering top-tier educational experiences, supporting its mission to cultivate knowledgeable, skilled, and innovative engineers who will contribute significantly to their respective fields and society at large. The University’s state-of-the-art infrastructure and highly qualified teaching staff enrich the students with practical experiences and theoretical learning. Additionally, the university regularly organizes various competitions and programs to enable students to showcase their talents and continue their educational journey.”
Sandhu said the Chandigarh University has launched Centre for Privacy and Security in Emerging Technologies (CPSET) Lab at AIT-CSE for strengthening research, innovation, and hands-on learning in the areas of cybersecurity, privacy, and emerging technologies. “As per National Cyber Crime Reporting Portal Data, around 28 lakh cyber frauds were reported in the year 2025, amounting to 22,931 crore rupees. The launch of this Centre of Excellence reflects Chandigarh University’s commitment to learning, innovation and building a stronger cybersecurity community. At CPSET, we continue to create opportunities that encourage students to learn, explore, and grow in the ever-evolving field of cybersecurity. As cybersecurity is revolutionizing the world in almost every industry and domain and is advancing at an unprecedented pace, large number of skilled resources with an in-depth understanding of underlying technologies as well as the domain will be required to build the necessary foundations and innovate. And in fact, it is expected by 2026, this industry would be at $352.25 billion business value. In line with this pressing industry need, Chandigarh University AIT has collaborated with one of the best companies in field of cybersecurity, IBM to offer advanced industry-oriented program of Bachelor of Engineering in Internet of Things as a four-year undergraduate program that familiarizes students with the diverse aspects of the cybersecurity ecosystem in functional as well as operational domains. During the tenure of this program, students develop an understanding of the trending abstract models for cybersecurity and apply them to real world, industry-based applications,” he added.
About Chandigarh University
Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.
Website address: https://www.cuchd.in/
View original content to download multimedia:https://www.prnewswire.com/in/news-releases/chandigarh-universitys-computer-science-engineering-students-develop-ai-powered-platform-to-detect-fraudulent-apps-302876195.html
Cyble Appoints Cybersecurity Veteran Steve Ingram as Executive Vice President, US to Lead Market Expansion
Fringe events at Automechanika Jakarta empower, connect and immerse participants in Indonesia’s automotive industry
Chandigarh University’s Computer Science Engineering Students Develop AI-Powered Platform to Detect Fraudulent Apps
Send Rakhi to UK swiftly with UK Gifts Portal
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
New Gooseneck Omni Antennas Offer Enhanced Signals in a Durable Package
Why You Should Build on #NEAR – Co-founder Illia Polosukhin at CV Labs
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
NEAR End of Year Town Hall 2021: The Open Web World, MetaBUILD 2 Hackathon and 2021 recap
Trending
-
Technology2 days agoAccels Launches to Power the AI Token Economy
-
Technology5 days agoHaier Showcases AI-Powered Smart Home Ecosystem at IFA 2026
-
Coin Market5 days agoTether-backed Orionx to shut down after audit flags $7M custody gap
-
Technology5 days agoOver 400 media professionals seek new drivers for Asia-Pacific growth
-
Technology5 days agoCreality Unveils K3, SPARKX i8 and Expanded Creative Ecosystem at IFA 2026
-
Technology5 days agoChina Xplained | The China Squeeze, or the China Opportunity?
-
Technology4 days agoArtprice News: D-12 | 18th LYON BIENNALE – CONTEMPORARY ART
-
Coin Market5 days agoSatoshi-era Bitcoin wakes after 16 years of dormancy as 600 BTC moves
