Flex reduces its sales in Mexico to US $ 4.413 million

Flex (formerly known as Flextronics) reduced its sales in Mexico to $ 4.413 million in the fiscal year ended March 31, 2021.

At the interannual rate, this amount implied a decrease of 0.8 percent.

At its core, the company is a contract manufacturer of electronic products that helps a diverse customer base design and manufacture products.

Through a global workforce in approximately 30 countries, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.

As of March 31, 2021, approximately 80% of the company‘s manufacturing capacity was located in emerging markets, including Brazil, China, Hungary, India, Indonesia, Malaysia, Mexico, Poland, Romania, and Ukraine.

In particular, in Mexico its properties and equipment total $ 553 million.

Based in Singapore, the company stands out as a global electronics manufacturing services company (EMS) and original design manufacturer (ODM).

In 2006, Flextronics took over a part of Lego’s production, but in 2009 Lego decided to end the relationship with Flextronics and buy the production facilities in Mexico and Hungary.

Flex and its structure

In the first quarter of fiscal 2021, Flex made certain changes to the structure of its organization as part of its strategy.

With two delivery and complementary models, Flex Agility Solutions and Flex Reliability Solutions, Flex now reports its financial performance based on these two reportable segments:

1.- Flex Agility Solutions (FAS), which is made up of the following end markets:

    • Communications, enterprise, and cloud (CEC), including data infrastructure, edge infrastructure, and communications infrastructure.
    • Lifestyle, including appliances, consumer packaging, floor care, micro mobility, and audio.
    • Consumer devices, including mobile and high-speed consumer devices.

2.- Flex Reliability Solutions («FRS»), which is comprised of the following end markets:

    • Automotive, including autonomy, connectivity, electrification and smart technologies.
    • Health solutions, including medical devices, medical equipment, and drug supplies.
    • Industrial, including capital equipment, industrial devices, renewables, including your Nextracker business, network edge, and power systems.