Flex Stock

Flex Ltd. offers advanced manufacturing solutions and operates one of the most trusted global supply chains.

The company also provides additional value to customers through a broad array of services, including design and engineering, component services, rapid prototyping, fulfillment, and circular economy solutions. The company supports a diverse set of industries, including cloud, communications, enterprise, automotive, industrial, consumer devices, lifestyle, healthcare, and energy.

Segments

The company operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker.

FAS

This segment includes the following end markets:

Communications, Enterprise and Cloud (CEC), including data infrastructure, edge infrastructure and communications infrastructure;

Lifestyle, including appliances, consumer packaging, floorcare, micro mobility and audio; and

Consumer Devices, including mobile and high velocity consumer devices.

This segment is optimized for speed to market based on a highly flexible supply and manufacturing system.

FRS

This segment includes the following end markets:

Automotive, including next generation mobility, autonomous, connectivity, electrification, and smart technologies;

Health Solutions, including medical devices, medical equipment, and drug delivery; and

Industrial, including capital equipment, industrial devices, and renewables and grid edge.

This segment is optimized for longer product lifecycles requiring complex ramps with specialized production models and critical environments.

Nextracker

This segment provides intelligent, integrated solar tracker and software solutions that are used in utility-scale and ground-mounted distributed generation solar projects around the world. This segment’s products enable solar panels to follow the sun’s movement across the sky and optimize plant performance.

This segment provides solar tracker technologies that optimize and increase energy production while reducing costs for significant plant return on investment.

Customers

The company’s customers include many of the world's leading technology, healthcare, automotive, and industrial companies. The company focuses on establishing long-term relationships with its customers and has been successful in expanding relationships to incorporate additional product lines and services.

For the year ended March 31, 2023, the company’s ten largest customers accounted for approximately 34% of net sales.

Strategy

The company helps its customers responsibly design and build products that create value and improve people’s lives. The company does this by providing its customers with product development lifecycle services, from innovation, design, and engineering, to manufacturing, supply chain solutions, component services, logistics, fulfillment and circular economy offerings.

The company’s strategy is to continue investing in areas where it can differentiate and add value, whether through engineering and design services, product technologies or developing differentiated processes and business methods. The company is strengthening its abilities in software, robotics, artificial intelligence, factory automation, simulation, digital twins, and other disruptive technologies. The company selects ethical partners and integrate the supply chain so that its customers can operate efficiently and responsibly.

Service Offerings

The company provides design, manufacturing and supply chain services through a network of over 100 locations in approximately 30 countries across four continents. It has established global scale through an extensive network of innovation labs, manufacturing operations, and services sites in the world's major consumer and enterprise products markets (Asia, the Americas, and Europe) to serve the supply chain needs of both multinational and regional companies.

The company offers global economies of scale in advanced materials and technology sourcing, manufacturing and after-market services, as well as market-focused expertise and capabilities in design and engineering. The company’s services include all processes necessary to design, build, ship, and service a wide range of products for customers. These services include:

Design and Engineering Services

The company offers industry-leading global design services, with extensive product design engineering resources that provide design services, product development, systems integration services, and solutions to satisfy a wide array of customer requirements, including system architecture; user interface and industrial design; cross-industry technologies; hardware design; software integration; and design for excellence.

The company has established state-of-the art innovation hubs in the Americas, Asia and Europe, with differentiated offerings and specialized services in emerging technologies from edge AI and connectivity to sensors integration for specific industries and markets. These innovation hubs offer customers geographically-focused centers of design services, help customers de-risk technologies, develop products from concept to volume production and go to market in a rapid and low risk manner.

Systems Assembly and Manufacturing

The company’s systems assembly and manufacturing operations generate the majority of its revenues and include printed circuit board assembly and assembly of systems and subsystems that incorporate printed circuit boards and complex electromechanical components. The company assembles electronic products with custom electronic enclosures on either a build-to-order or configure-to-order basis. As customers seek to provide greater functionality in physically smaller products, they increasingly require more sophisticated manufacturing technologies and processes. The company’s investment in advanced manufacturing equipment and its expertise in innovative miniaturization, packaging and interconnective technologies enable it to offer a variety of leading-edge manufacturing solutions. The company supports a wide range of product demand profiles, from low-volume, high-complexity programs, to high-volume production. The company’s systems assembly and manufacturing capabilities include enclosures, testing services, and materials procurement and inventory management.

Power Solutions

The company offers a full-service power supply business that provides a range of solutions from custom to highly scalable system solutions. The company has expertise in high efficiency and high-density switching power supplies ranging from 1 to 3,000 watts. The company’s product portfolio includes chargers for smartphones and tablets, adapters for notebooks and gaming systems, and power supplies for the server, storage, and networking markets. Anord Mardix offers an extensive product portfolio of critical power solutions, including switchgear, busway, power distribution and modular power systems, along with monitoring solutions and services. This portfolio combined with the company’s embedded power, server and storage products, racks and enclosures and full systems assembly capability provides the opportunity for growth in the data center market.

Solar Tracker and Software Solutions

Nextracker Inc. (Nextracker) is the leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. Nextracker's products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. By optimizing and increasing energy production and reducing costs, Nextracker's tracker products and software solutions offer significant return on investment (ROI). Single axis solar trackers generate up to 25% more energy than projects that use fixed-tilt systems that do not track the sun. Nextracker has developed an intelligent independent row tracking system with proprietary technology that produces more energy, lowers operating costs, and is easier to deploy compared to other tracker products. Nextracker's tightly-integrated software solutions use advanced algorithms and artificial intelligence technologies to optimize the performance and capabilities of its tracker products.

Global Services and Solutions

By delivering value-added fulfillment, logistics, repair, refurbishment, recycling services and circular economy solutions, Flex Global Services and Solutions empowers customers to find the optimal route to market, deliver a seamless customer experience and build a sustainable, scalable competitive advantage. The company’s customers are enabled to maximize operational resiliency thanks to the breadth of its global scale, strategic insights and extensive visibility. The company's suite of services is tailored to customers operating in the computing, consumer digital, infrastructure, industrial, mobile, automotive and healthcare industries.

Circular Economy Solutions

The company offers a suite of integrated reverse logistics, repair and refurbishment solutions that use globally consistent processes, which help increase its customers' brand loyalty by improving turnaround times and raising end-customer satisfaction levels while significantly reducing the carbon footprint for its customers. The company’s reverse logistics and repair solutions include returns management, exchange programs, complex repair, asset recovery, recycling and e-waste management. The company provides repair expertise to multiple product lines, such as consumer and midrange products, printers, smart phones, consumer medical devices, notebook personal computers, set-top boxes, game consoles and highly complex infrastructure products.

Component Services

The company provides manufacturing, customization, procurement, global logistics services and innovative supply chain solutions on a wide range of electronic components by utilizing the Flex global procurement and supply chain ecosystem to increase resiliency.

Environmental Risks and Climate Change

The company also complies with an increasing number of regulations concerning product safety and stewardship, packaging and labeling, as well as product environmental compliance regulations focused on the restriction of certain hazardous substances, including Restrictions on Hazardous Substances (RoHS) 2011/65/EU; Waste Electrical and Electronic Equipment (WEEE) 2012/19/EU directives; the regulation EC 1907/2006 EU (European Union) Directive REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals); China's RoHS (Restrictions on Hazardous Substances) entitled, Management Methods Caused by Controlling Pollution for Electronic Information Products (EIPs).

History

The company was founded in 1969. The company was incorporated in the Republic of Singapore in 1990. It was formerly known as Flextronics International Ltd. and changed its name to Flex Ltd. in 2016.