Technology
Lam Research Corporation Reports Financial Results for the Quarter Ended December 29, 2024
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1 year agoon
By
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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SOURCE Lam Research Corporation
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“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.
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/ai-powered-connectivity-apac-charts-a-path-to-a-smarter-digital-future-302829032.html
SOURCE HUAWEI
Technology
Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer
Published
3 hours agoon
July 18, 2026By
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/laifen-expands-us-retail-footprint-with-costco-launch-of-best-selling-se-hair-dryer-302828573.html
SOURCE Laifen
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/pillsbury-notice-of-data-breach-302828892.html
SOURCE Pillsbury Winthrop Shaw Pittman LLP
AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future
Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer
Pillsbury Notice of Data Breach
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