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Lam Research Corporation Reports Financial Results for the Quarter Ended December 29, 2024

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FREMONT, Calif., Jan. 29, 2025 /PRNewswire/ — Lam Research Corporation (the “Company,” “Lam,” “Lam Research”) today announced financial results for the quarter ended December 29, 2024 (the “December 2024 quarter”).

Highlights for the December 2024 quarter were as follows:

Revenue of $4.38 billion.U.S. GAAP gross margin of 47.4%, U.S. GAAP operating income as a percentage of revenue of 30.5%, and U.S. GAAP diluted EPS of $0.92.Non-GAAP gross margin of 47.5%, non-GAAP operating income as a percentage of revenue of 30.7%, and non-GAAP diluted EPS of $0.91.

Key Financial Data for the Quarters Ended 
December 29, 2024 and September 29, 2024
(in thousands, except per-share data, percentages, and basis points) 

U.S. GAAP

December 2024

September 2024

Change Q/Q

Revenue

$                4,376,047

$                4,167,976

+ 5 %

Gross margin as percentage of revenue

47.4 %

48.0 %

– 60 bps

Operating income as percentage of revenue

30.5 %

30.3 %

+ 20 bps

Diluted EPS

$                          0.92

$                          0.86

+ 7 %

Non-GAAP

December 2024

September 2024

Change Q/Q

Revenue

$                4,376,047

$                4,167,976

+ 5 %

Gross margin as percentage of revenue

47.5 %

48.2 %

– 70 bps

Operating income as percentage of revenue

30.7 %

30.9 %

– 20 bps

Diluted EPS

$                          0.91

$                          0.86

+ 6 %

U.S. GAAP Financial Results

For the December 2024 quarter, revenue was $4,376 million, gross margin was $2,073 million, or 47.4% of revenue, operating expenses were $739 million, operating income was 30.5% of revenue, and net income was $1,191 million, or $0.92 per diluted share on a U.S. GAAP basis. This compares to revenue of $4,168 million, gross margin of $2,003 million, or 48.0% of revenue, operating expenses of $738 million, operating income of 30.3% of revenue, and net income of $1,116 million, or $0.86 per diluted share, for the quarter ended September 29, 2024 (the “September 2024 quarter”).

Non-GAAP Financial Results

For the December 2024 quarter, non-GAAP gross margin was $2,077 million, or 47.5% of revenue, non-GAAP operating expenses were $735 million, non-GAAP operating income was 30.7% of revenue, and non-GAAP net income was $1,175 million, or $0.91 per diluted share. This compares to non-GAAP gross margin of $2,009 million, or 48.2% of revenue, non-GAAP operating expenses of $722 million, non-GAAP operating income of 30.9% of revenue, and non-GAAP net income of $1,122 million, or $0.86 per diluted share, for the September 2024 quarter.

“Lam is executing at a high level at a pivotal moment for semiconductor manufacturing. Increasing demands on chip performance play into Lam’s strengths, with advanced deposition and etch applications set to comprise a growing share of WFE,” said Tim Archer, Lam Research’s President and Chief Executive Officer. “Our investments to win at key technology inflections are paying off, with more exciting opportunities ahead.”

Balance Sheet and Cash Flow Results

Cash, cash equivalents, and restricted cash balances decreased to $5.7 billion at the end of the December 2024 quarter compared to $6.1 billion at the end of the September 2024 quarter. The decrease was primarily the result of cash deployed for capital return activities and capital expenditures during the quarter, partially offset by cash generated from operating activities.

Deferred revenue at the end of the December 2024 quarter decreased to $2,032 million compared to $2,047 million as of the end of the September 2024 quarter. Lam’s deferred revenue balance does not include shipments to customers in Japan, to whom control does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $453 million as of December 29, 2024 and $184 million as of September 29, 2024.

Revenue

The geographic distribution of revenue during the December 2024 quarter is shown in the following table:

Region

Revenue

China

31 %

Korea

25 %

Taiwan

17 %

United States

9 %

Japan

8 %

Southeast Asia

7 %

Europe

3 %

The following table presents revenue disaggregated between system and customer support-related revenue:

Three Months Ended

December 29,
2024

September 29,
2024

December 24,
2023

(In thousands)

Systems revenue

$              2,625,649

$              2,392,730

$              2,299,286

Customer support-related revenue and other

1,750,398

1,775,246

1,458,973

$              4,376,047

$              4,167,976

$              3,758,259

Systems revenue includes sales of new leading-edge equipment in deposition, etch and clean markets.

Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.

Outlook

For the quarter ended March 30, 2025, Lam is providing the following guidance: 

U.S. GAAP

Reconciling
Items

Non-GAAP

Revenue

$4.65 Billion

+/-

$300 Million

$4.65 Billion

+/-

$300 Million

Gross margin as a percentage of revenue

47.9 %

+/-

1 %

$   2.8

Million

48.0 %

+/-

1 %

Operating income as a percentage of revenue

31.9 %

+/-

1 %

$   3.4

Million

32.0 %

+/-

1 %

Net income per diluted share

$1.00

+/-

$0.10

$   3.9

Million

$1.00

+/-

$0.10

Diluted share count

1.29 Billion

1.29 Billion

The information provided above is only an estimate of what the Company believes is realizable as of the date of this release and does not incorporate the potential impact of any business combinations, asset acquisitions, divestitures, restructuring, balance sheet valuation adjustments, financing arrangements, other investments, or other significant arrangements that may be completed or realized after the date of this release, except as described below. U.S. GAAP to non-GAAP reconciling items provided include only those items that are known and can be estimated as of the date of this release. Actual results will vary from this model and the variations may be material. Reconciling items included above are as follows:

Gross margin as a percentage of revenue – amortization related to intangible assets acquired through business combinations, $2.8 million.

Operating income as a percentage of revenue – amortization related to intangible assets acquired through business combinations, $3.4 million.

Net income per diluted share – amortization related to intangible assets acquired though business combinations, $3.4 million; amortization of debt discounts, $0.8 million; and associated tax benefit for non-GAAP items ($0.3 million); totaling $3.9 million.

Use of Non-GAAP Financial Results

In addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company’s non-GAAP results for both the December 2024 and September 2024 quarters exclude amortization related to intangible assets acquired through business combinations, the effects of elective deferred compensation-related assets and liabilities, amortization of note discounts, and the net income tax effect of non-GAAP items. Additionally, the non-GAAP results for the December 2024 quarter exclude the income tax benefit from a change in tax law.

Management uses non-GAAP gross margin, operating expense, operating income, operating income as a percentage of revenue, net income, and net income per diluted share to evaluate the Company’s operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors’ ability to view the Company’s results from management’s perspective. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release and on the Company’s website at https://investor.lamresearch.com.

Caution Regarding Forward-Looking Statements

Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our outlook and guidance for future financial results, including revenue, gross margin, operating income and net income; our operational execution; the prospects for semiconductor manufacturing and for demand for wafer fabrication equipment (“WFE”); chip performance demands; the competitive positioning of Lam’s products; growth in the significance of advanced deposition and etch applications as a proportion of wafer fabrication equipment spending; the success of our investments at key technology inflections; and the opportunities ahead of us. Some factors that may affect these forward-looking statements include: the actions of our customers and competitors may be inconsistent with our expectations; business, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; trade regulations, export controls, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 30, 2024, and our quarterly report on Form 10-Q for the fiscal quarter ended September 29, 2024. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam’s equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)

Consolidated Financial Tables Follow.

 

LAM RESEARCH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data and percentages)
(unaudited) 

Three Months Ended

Six Months Ended

December 29,
2024

September 29,
2024

December 24,
2023

December 29,
2024

December 24,
2023

Revenue

$   4,376,047

$   4,167,976

$   3,758,259

$   8,544,023

$  7,240,321

Cost of goods sold

2,303,066

2,165,293

1,985,847

4,468,359

3,805,267

Restructuring charges, net – cost of goods sold

14,957

22,897

Total cost of goods sold

2,303,066

2,165,293

2,000,804

4,468,359

3,828,164

Gross margin

2,072,981

2,002,683

1,757,455

4,075,664

3,412,157

Gross margin as a percent of revenue

47.4 %

48.0 %

46.8 %

47.7 %

47.1 %

Research and development

494,947

495,358

469,712

990,305

892,341

Selling, general and administrative

244,150

243,128

228,843

487,278

435,866

Restructuring charges, net – operating expenses

1,688

3,709

Total operating expenses

739,097

738,486

700,243

1,477,583

1,331,916

Operating income

1,333,884

1,264,197

1,057,212

2,598,081

2,080,241

Operating income as a percent of revenue

30.5 %

30.3 %

28.1 %

30.4 %

28.7 %

Other income (expense), net

14,262

30,081

29,839

44,343

32,440

Income before income taxes

1,348,146

1,294,278

1,087,051

2,642,424

2,112,681

Income tax expense

(157,128)

(177,834)

(132,785)

(334,962)

(271,017)

Net income

$   1,191,018

$   1,116,444

$      954,266

$   2,307,462

$  1,841,664

Net income per share:

Basic

$             0.93

$             0.86

$             0.72

$             1.78

$            1.39

Diluted

$             0.92

$             0.86

$             0.72

$             1.78

$            1.39

Number of shares used in per share calculations:

Basic

1,287,109

1,299,236

1,316,293

1,293,173

1,321,067

Diluted

1,291,469

1,304,066

1,322,201

1,297,767

1,326,933

Cash dividend declared per common share

$             0.23

$             0.23

$             0.20

$             0.46

$            0.40

 

LAM RESEARCH CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)

December 29,
2024

September 29,
2024

June 30,
2024

(unaudited)

(unaudited)

(1)

ASSETS

Cash and cash equivalents

$         5,665,379

$         6,067,471

$         5,847,856

Accounts receivable, net

3,304,946

2,937,217

2,519,250

Inventories

4,358,152

4,209,878

4,217,924

Prepaid expenses and other current assets

284,370

277,802

298,190

Total current assets

13,612,847

13,492,368

12,883,220

Property and equipment, net

2,313,590

2,214,269

2,154,518

Goodwill and intangible assets

1,761,021

1,758,344

1,765,073

Other assets

2,152,458

2,067,508

1,941,917

Total assets

$       19,839,916

$       19,532,489

$       18,744,728

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current portion of long-term debt and finance lease obligations

$            504,136

$            504,682

$            504,814

Other current liabilities

4,846,160

4,837,986

3,833,624

Total current liabilities

5,350,296

5,342,668

4,338,438

Long-term debt and finance lease obligations

4,478,148

4,479,087

4,478,520

Income taxes payable

669,747

664,717

813,304

Other long-term liabilities

533,699

574,126

575,012

Total liabilities

11,031,890

11,060,598

10,205,274

Stockholders’ equity (2)

8,808,026

8,471,891

8,539,454

Total liabilities and stockholders’ equity

$       19,839,916

$       19,532,489

$       18,744,728

(1)

Derived from audited financial statements.

(2)

Common shares issued and outstanding were 1,284,956 as of December 29, 2024, 1,291,958 as of September 29, 2024, and 1,303,769 as of June 30, 2024.

 

LAM RESEARCH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands, unaudited)

Three Months Ended

Six Months Ended

December 29,
2024

September 29,
2024

December 24,
2023

December 29,
2024

December 24,
2023

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$         1,191,018

$         1,116,444

$            954,266

$         2,307,462

$         1,841,664

Adjustments to reconcile net income to net cash provided
by operating activities:

Depreciation and amortization

96,200

94,295

90,941

190,495

181,420

Deferred income taxes

(82,854)

(108,722)

(88,747)

(191,576)

(112,985)

Equity-based compensation expense

81,959

80,011

69,901

161,970

137,112

Other, net

(8,592)

(457)

4,182

(9,049)

4,032

Changes in operating assets and liabilities

(535,789)

386,900

423,297

(148,889)

353,760

Net cash provided by operating activities

741,942

1,568,471

1,453,840

2,310,413

2,405,003

CASH FLOWS FROM INVESTING ACTIVITIES:

Capital expenditures and intangible assets

(188,349)

(110,588)

(115,276)

(298,937)

(192,268)

Net maturities and sales of available-for-sale securities

15,841

23,116

Other, net

12,974

37

(2,523)

13,011

(7,489)

Net cash used for investing activities

(175,375)

(110,551)

(101,958)

(285,926)

(176,641)

CASH FLOWS FROM FINANCING ACTIVITIES:

Principal payments on debt, including finance lease
obligations

(1,032)

(934)

(986)

(1,966)

(254,095)

Treasury stock purchases, including excise tax payments

(697,688)

(997,035)

(645,458)

(1,694,723)

(1,488,696)

Dividends paid

(297,634)

(260,985)

(264,414)

(558,619)

(494,746)

Reissuance of treasury stock related to employee stock
purchase plan

60,557

53,081

60,557

53,081

Proceeds from issuance of common stock, net issuance
costs

(194)

(43)

1,704

(237)

4,522

Other, net

761

(324)

(3,821)

437

(5,972)

Net cash used for financing activities

(935,230)

(1,259,321)

(859,894)

(2,194,551)

(2,185,906)

Effect of exchange rate changes on cash, cash equivalents,
and restricted cash

(26,022)

22,682

6,725

(3,340)

(4,306)

Net change in cash, cash equivalents, and restricted cash

(394,685)

221,281

498,713

(173,404)

38,150

Cash, cash equivalents, and restricted cash at beginning of
period (1)

6,072,084

5,850,803

5,126,809

5,850,803

5,587,372

Cash, cash equivalents, and restricted cash at end of
period (1)

$         5,677,399

$         6,072,084

$         5,625,522

$         5,677,399

$         5,625,522

(1)

Restricted cash is reported within Other assets in the Condensed Consolidated Balance Sheets

 

Non-GAAP Financial Summary
(in thousands, except percentages and per share data) 
(unaudited)

Three Months Ended

December 29,
2024

September 29,
2024

Revenue

$        4,376,047

$        4,167,976

Gross margin

$        2,077,151

$        2,009,022

Gross margin as percentage of revenue

47.5 %

48.2 %

Operating expenses

$           734,501

$           722,148

Operating income

$        1,342,650

$        1,286,874

Operating income as a percentage of revenue

30.7 %

30.9 %

Net income

$        1,175,000

$        1,121,507

Net income per diluted share

$                 0.91

$                 0.86

Shares used in per share calculation – diluted

1,291,469

1,304,066

 

Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income
(in thousands, except per share data) 
(unaudited) 

Three Months Ended

December 29,
2024

September 29,
2024

U.S. GAAP net income

$           1,191,018

$           1,116,444

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations – cost of goods sold

2,817

3,076

Elective deferred compensation (“EDC”) related liability valuation increase – cost of goods sold

1,353

3,263

EDC related liability valuation increase – research and development

2,432

8,136

Amortization related to intangible assets acquired through certain business combinations – selling, general and
administrative

538

692

EDC related liability valuation increase – selling, general and administrative

1,626

7,510

Amortization of note discounts – other income (expense), net

772

765

Gain on EDC related asset – other income (expense), net

(4,502)

(17,420)

Net income tax benefit on non-GAAP items

(276)

(959)

Income tax benefit from a change in tax law

(20,778)

Non-GAAP net income

$           1,175,000

$           1,121,507

Non-GAAP net income per diluted share

$                    0.91

$                    0.86

U.S. GAAP net income per diluted share

$                    0.92

$                    0.86

U.S. GAAP and non-GAAP number of shares used for per diluted share calculation

1,291,469

1,304,066

 

Reconciliation of U.S. GAAP Gross Margin, Operating Expenses and Operating Income to Non-GAAP Gross Margin,
Operating Expenses and Operating Income
(in thousands, except percentages)
(unaudited) 

Three Months Ended

December 29,
2024

September 29,
2024

U.S. GAAP gross margin

$        2,072,981

$        2,002,683

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

2,817

3,076

EDC related liability valuation increase

1,353

3,263

Non-GAAP gross margin

$        2,077,151

$        2,009,022

U.S. GAAP gross margin as a percentage of revenue

47.4 %

48.0 %

Non-GAAP gross margin as a percentage of revenue

47.5 %

48.2 %

U.S. GAAP operating expenses

$           739,097

$           738,486

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

(538)

(692)

EDC related liability valuation increase

(4,058)

(15,646)

Non-GAAP operating expenses

$           734,501

$           722,148

U.S. GAAP operating income

$        1,333,884

$        1,264,197

Non-GAAP operating income

$        1,342,650

$        1,286,874

U.S. GAAP operating income as percent of revenue

30.5 %

30.3 %

Non-GAAP operating income as a percent of revenue

30.7 %

30.9 %

Lam Research Corporation Contacts:
Ram Ganesh, Investor Relations, phone: 510-572-1615, e-mail: investor.relations@lamresearch.com

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Technology

AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future

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Asia-Pacific’s first Broadband Development Summit brings regulators and operators to Bangkok to set the agenda

BANGKOK, July 19, 2026 /PRNewswire/ — Government officials, standards bodies and telecom operators gathered in Bangkok on 14 July for the inaugural Broadband Development Summit APAC 2026, convened by the World Broadband Association (WBBA) to build consensus on AI-era networks.

Participants included the ITU, Thailand’s National Board of the Digital Economy and Society, WBBA, IAB, FNCAP, WAA, NIDA and the IPv6 Council, alongside operators Telkomsel, XLSmart, Surge, Globe, AIS, CMI and HKT and Huawei.

Denny Deng, President of Huawei Asia Pacific Carrier Business, envisions a “faster, smarter, greener” Asia-Pacific.

VOICES FROM THE SUMMIT

“To seize the opportunities of the AI era, we call on the industry to accelerate broadband evolution, advance computing-network synergy, and strengthen the cross-border connectivity. Together, let us build faster, smarter, and greener digital infrastructure for Asia-Pacific.”
— Denny Deng, President of Asia Pacific Carrier Business, Huawei

“High-speed broadband is no longer just about ‘getting online’ — it is the vital infrastructure upon which the entire AI revolution is being built. We view AI not merely as a tool, but as a primary engine for national competitiveness and a catalyst for improving the quality of life for all.”
— Wetang Phuangsup, Ph.D., Secretary-General, the National Board of the Digital Economy and Society, Thailand

“Three initiatives define the road to 2030. We must close the quality divide so the value of broadband reaches everyone. We must build AI-ready networks — 10G access, 800GE cores, intelligence end to end. And we must do it together, through shared standards.”
— Martin Creaner, Director General of WBBA

“Moving towards next-generation networks, network architectures must continue to evolve to deliver broader connectivity, superior quality, enhanced security, and greater intelligence. This evolution is essential for Net5.5G, positioning the network not simply as infrastructure, but as the foundation that enables AI, strengthens resilience and efficiency, and supports digital transformation across industries.”
— Dhruv Dhody, Industry Standardization Expert at Huawei, Chair of the IAB, IETF

“Across Asia-Pacific, fibre is extending beyond homes and offices into rooms, devices, and machines. By working together, we can accelerate fibre innovation and adoption to build truly AI-ready infrastructure.”
— Ilham Nandana, Chair of the Market Intelligence Committee, Fiber Network Council APAC (FNCAP)

“We fixed it before you feel it!  AIS is redefining premium home broadband by combining ultra-fast connectivity with AI-driven network intelligence and smart home ecosystem — delivering proactive, invisible service excellence that transforms connectivity into differentiated customer value and sustainable ARPU growth.”
— Thanit Chaiyaboonthanit, Head of Technology Department, Broadband Business, AIS

“Connecting the Unconnected: Affordable Broadband at Scale. Create equal access to global information and empower Indonesia’s digital society.”
— Shannedy Ong, CTO of Surge Indonesia

“Beyond Connectivity: Telkomsel is transforming into a true value creator. By leveraging our FBB market-leading footprint, we power growth through service excellence, customer loyalty, and a next-generation home ecosystem.”
— Stanislaus Susatyo, Director of Sales, Telkomsel Indonesia

“We stopped treating AI as an add-on feature. Instead, our approach at Globe starts with architecture, embedding intelligence into the very core of how we build, how we sell, and how we operate.
AI continuously monitors network health, customer behavior and service quality. Rather than waiting for failures, the system predicts degradation and initiates corrective actions. By maintaining minute-level awareness of network health, our systems automatically resolve 30% of all Wi-Fi issues without any human intervention.”
— Danny Theseira, Head of Broadband Business Group at Globe Telecom

“Huawei is driving the Optics-AI Synergy to foster their collaborative growth. Through AI-ON, operators could build an AI-centric all-optical target network and establish 1-5-20ms latency circles across the Asia Pacific region. AI-ON also supports efficient computing access and usage while delivering an ultimate network experience through gigabit/ultra-gigabit home broadband, accelerating the widespread adoption of AI services.”
— Kim Jin, Vice President & Chief Marketing Officer Optical Business Product Line, Huawei

“Connectivity is not just about technology. It is a lifeline, a platform for opportunity, and a driver of sustainable development. I believe the intersection of connectivity and artificial intelligence will shape the future of smarter, more resilient networks.”
— Dr. Cosmas Zavazava, Director of the Telecommunication Development Bureau, ITU

“Performance and user experience are the essential path to the next-generation WLAN. Based on standards and AI-driven innovation, let’s jointly explore the path to the future autonomous WLAN with all the stakeholders.”
— Dr. Crane H. Yang, Secretary-General, World WLAN Application Alliance (WAA)

“At the summit, NIDA and WBBA signed an MOU to accelerate next-generation network evolution and establish pioneering smart city benchmarks through the co-development of industry standards, the harmonization of global regulations, and the sharing of vertical industry insights.
NIDA focuses on advancing network architecture standards, while WBBA drives global consensus on broadband evolution. This natural strategic complementarity creates vast opportunities for future collaboration.”
— Joey Deng, Secretary-General of NIDA

“ION-2030 develops the global standard for next generation optical networks in the AI era. It provides exceptional AI application and service experience. The WBBA and ITU will jointly accelerate its development, and this is a unique opportunity for Asia-Pacific stakeholders to actively influence the future of optical broadband networks.”
— Dr. Marcus Brunner, Chief Expert Standardization, WBBA WG1 Chair and Vice-Chair of ETSI ISG F5G

“The transition into the AI era demands a high-quality, deterministic digital foundation. By releasing Net5.5G policy guidelines, Malaysia is accelerating the evolution of next-generation network standards based on IPv6, establishing an innovative infrastructure to unleash AI’s value and drive a prosperous digital economy for 2030.”
— Prof. Sureswaran Ramadass, Chair of APAC at IPv6 Council, Industry Partner of WBBA

“The digital economy is thriving across the Asia-Pacific region, with AI emerging as a core catalyst for intelligent transformation. China Mobile International (CMI) is driving regional growth by integrating China’s advanced AI capabilities with comprehensive communications, computing, and AI services. Moving forward, CMI will collaborate closely with industry partners to foster a shared, AI-driven future for the region.”
— Paul Lin, Managing Director of Commercial and Technology, Asia Pacific, China Mobile International

“Next-generation network infrastructure is the oxygen of the intelligent economy. By integrating cutting-edge 800G connectivity with quantum-safe security, HKT is laying the essential foundations to keep Hong Kong’s enterprises highly competitive, secure, and ready for the computing paradigm shifts of tomorrow.”
— Wilson Cheung, Vice President, Broadband Design & Cyber Security, HKT

“The evolution toward Net5.5G AI WAN is an important step in strengthening XLSMART’s transport network for the future. By progressively adopting AI-assisted operations, SRv6, SDN, service differentiation, and higher-capacity transport infrastructure, we are enhancing network intelligence, operational efficiency, and service resilience while supporting long-term sustainability. This transformation is a continuous journey that aligns with the industry’s vision of AI-native broadband networks. Through collaboration with our technology partners and the broader ecosystem, we will continue to develop capabilities that deliver better network performance and support Indonesia’s growing digital connectivity needs.”
— Regie Ginanjar, Head of Transport Autonomy & Orchestration, Transport Network Transformation, XLSMART

“For the AI era, Huawei upgrades the IP bearer network via security resilience, multi-dimensional awareness, and network autonomy. This empowers carriers to guarantee service experience, accelerate monetization, and enhance efficiency, ushering in a new chapter of intelligent connectivity.”
— Arthur Wang, Vice President of Data Communication Product Line, Huawei

A CONVERGING VIEW

Speakers agreed AI is shifting networks from connectivity to intelligent connectivity, as broadband, IP, computing and cross-border infrastructure converge to support innovation and coordination.

WBBA launched the AI-Net Certification, a global benchmark for national policy, industrial ecosystems and network intelligence. XLSmart was named first AI-Net Champion, and Indonesia was among the first with a certified operator, backed by its Net5.5G roadmap.

In another high-profile segment, WBBA Director General Martin Creaner presented the Gigacity Certification to KOMDIGI, SURGE, Telkomsel, AIS, TRUE, HKT and Globe, recognizing regional broadband pioneers.

 

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SOURCE HUAWEI

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Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

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Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen: 

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

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Pillsbury Notice of Data Breach

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html

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SOURCE Pillsbury Winthrop Shaw Pittman LLP

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