NOTE

Electronics Manufacturing Services (EMS)note-ems.com

NOTE AB is a Stockholm-listed (OMX: NOTE) Northern European electronics contract manufacturer offering PCBA and box build services across the full product lifecycle to OEM customers in Medtech, Industrial, Communication, Greentech, and Security & Defence.

Company typePublic
Founded-
HeadquartersStockholm, Sweden
Headcount1,001–5,000
GTM typeB2B
OfferingHardware or Manufacturing

What NOTE does

NOTE AB is a Stockholm-headquartered, publicly listed (OMX Stockholm: NOTE) electronics manufacturing services (EMS) provider and one of the largest contract manufacturers for electronics and complete products in Northern Europe. The company delivers PCBA (Printed Circuit Board Assembly) and box build solutions across the full product lifecycle, organized around four service pillars: Development Services (production-engineering support in early stages), Sourcing & Logistics (component procurement and supply chain), Manufacturing (series production), and Aftermarket Services (lifecycle support). Its underlying capability stack is operational rather than software-driven — combining surface-mount and box-build assembly lines, component sourcing networks, test development, and production-engineering know-how — supported by ISO 9001 quality certification.

The business model is B2B contract manufacturing sold through direct enterprise field-sales engagement with OEM customers in five target verticals: Medtech (instruments, hospital equipment, in-body products), Industrial (energy, automation, agriculture, transport, infrastructure), Communication (high-speed optical, wireless, transmission and networking equipment with comprehensive test development), Greentech (green-technology products), and Security & Defence (advanced electronics for the defence and security industry where reliability and confidentiality are critical). Pricing is not publicly disclosed and is quote-based, determined by customer specifications, volumes, and service scope.

Operationally, NOTE runs 13 manufacturing facilities across six countries — Sweden (Norrtälje, Torsby, Herrljunga, Lund), Finland (Hyvinkää), the United Kingdom (Windsor, Haddenham, Basildon, and an STI / NOTE site in Wolverhampton), Estonia (Pärnu), Bulgaria (Sofia), and China (Tangxia) — combining Northern European proximity for OEM collaboration with lower-cost geographies for scale and cost efficiency. The stated vision is to be the natural choice as a manufacturing partner by combining local presence with global manufacturing and long-term relationships.

NOTE firmographics

Firmographics

Name: NOTE
Legal name: NOTE AB
Website: https://note-ems.com
Company type: Public
Operating status: Operating
Headcount range: 1,001–5,000 employees
Short description: NOTE AB is a Stockholm-listed (OMX: NOTE) Northern European electronics contract manufacturer offering PCBA and box build services across the full product lifecycle to OEM customers in Medtech, Industrial, Communication, Greentech, and Security & Defence.
Ownership category
akta.pro rank

NOTE industry classification

Industry

Product category: Electronics Manufacturing Services (EMS)
NAICS: Printed Circuit Assembly (Electronic Assembly) Manufacturing (334418)
SIC: Printed Circuit Boards (3672)
akta.pro primary industry: PCB Assembly (PCBA/EMS) (HDAHAOAI)

Keywords

Electronics manufacturing services
Contract manufacturing
PCBA assembly
Box build services
Industrial electronics

Where NOTE is headquartered

Location

Headquarters

HQ city: Stockholm
HQ country: Sweden
HQ region: Europe

Offices13 records

Markets served

NOTE business model

Business model

GTM type: B2B
Offering type: Hardware or Manufacturing
Cost components: Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D

Revenue model

Contract Manufacturing Services: NOTE generates revenue through contract manufacturing of electronics, providing services from early-stage product engineering through serial production and aftermarket support. Revenue is derived from manufacturing fees, component sourcing, and value-added services across the product lifecycle.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

NOTE product offering

Product offering

Core offering

NOTE AB is a contract manufacturing partner for electronics and complete products, providing PCBA (Printed Circuit Board Assembly) and box build manufacturing services. The offering spans four integrated service pillars: development services, sourcing & logistics, contract manufacturing (series production), and aftermarket services, serving OEM customers in Medtech, Industrial, Communication, Greentech, and Security & Defence sectors from facilities across Northern Europe and China.

Product overview

NOTE is a contract manufacturing partner for electronics and complete products, offering a unified portfolio of services covering the entire product lifecycle. The core offering spans PCBA (Printed Circuit Board Assembly) and box build manufacturing, supported by four integrated service pillars: Development Services (production-technical support in early stages), Sourcing & Logistics (component procurement and supply chain), Manufacturing (series production of electronics), and Aftermarket Services (lifecycle support). The company serves five customer segments: Medtech, Industrial, Communication, Greentech, and Security & Defence, providing localized presence combined with global manufacturing capabilities across facilities in Sweden, Finland, England, Estonia, Bulgaria, and China.

Differentiator

Problem solved

Functional benefit

Products and services

Development Services Production-technical services in early development stages, supporting product engineering and design for manufacturing for OEM customers across Medtech, Industrial, Communication, Greentech, and Security & Defence sectors.
Sourcing & Logistics Component sourcing and supply chain logistics services supporting electronics manufacturing for OEM customers.
Contract Manufacturing Series production of PCBA (Printed Circuit Board Assembly) and box build services for electronics, executed across manufacturing facilities in Sweden, Finland, England, Estonia, Bulgaria, and China.
Aftermarket Services Advanced aftermarket services supporting customer products throughout their lifecycle.

Companies that use NOTE

Customer profile

Segments5 records

Ideal customer profiles5 records

NOTE technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature2 records

NOTE partnerships and signals

Strategic signal

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

NOTE competitors and assessment

Company assessment

Direct peers

Cicor Technologies: Swiss-headquartered EMS group providing PCBA, microelectronics, and complete device manufacturing for medical, industrial, and aerospace customers in Europe — directly overlapping with NOTE's high-reliability vertical focus.
Inission AB: Nordic EMS company providing contract manufacturing of electronics and complete products across Sweden, Norway, and Finland, with vertical focus closely overlapping NOTE's Medtech, Industrial, and Defence segments.
Hanza AB: Swedish-headquartered EMS provider offering PCBA, mechanics, and box build manufacturing with a similar Northern European footprint and customer-segment focus, directly competing with NOTE on Nordic OEM contracts.
Scanfil Oyj: Finnish-listed global EMS and contract manufacturer offering PCBA, box build, and supply chain services across Europe, Asia, and the Americas, comparable in scale, public-listing profile, and full-lifecycle service model to NOTE.
Kitron ASA: Norway-based EMS competitor with European and North American manufacturing, serving defense, aerospace, energy, and medical customers — directly comparable end-market mix and EMS service model to NOTE.

Broad incumbents

Flex Ltd: Global tier-1 EMS giant offering scale manufacturing across virtually all electronics verticals; competes with NOTE for large OEM programs but with vastly broader scope and capacity.
Hon Hai Precision (Foxconn): World's largest contract electronics manufacturer; competes with NOTE on price-sensitive PCBA programs and represents the scale benchmark that mid-tier European EMS players like NOTE must differentiate against.
Jabil Inc. Global EMS leader with diversified end-market exposure including healthcare, automotive, and industrial; overlaps with NOTE's verticals but operates at materially larger scale.
Sanmina Corporation: US-headquartered global EMS provider with European manufacturing footprint serving medical, defense, and industrial customers — comparable verticals and PCBA/box-build offering to NOTE at a much larger scale.

Regional players

Note-partner ENICS (private under Aspocomp/Investor ownership): Northern European EMS provider with operations concentrated in Finland, Sweden, Estonia, and Slovakia, competing head-to-head with NOTE for Nordic industrial and medtech OEM contracts.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

NOTE compliance and trust

Trust signal

Compliance1 record

NOTE financial estimates

Financial estimate

Revenue estimate

Valuation estimate

NOTE leadership team

Management profile

Number of profiles

NOTE funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

NOTE M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NOTE

What does NOTE do?

Is NOTE a public or private company?

NOTE is a public company. It is classified as public and is currently operating.

When was NOTE founded?

NOTE was founded in -1. It employs 1,001 to 5,000 people.

Where is NOTE based?

NOTE is headquartered in Stockholm, Sweden, in the Europe region.

How does NOTE make money?

One revenue line is on record: contract Manufacturing Services.

Who are NOTE's main competitors?

Direct peers on record are Cicor Technologies, Inission AB, Hanza AB, Scanfil Oyj and Kitron ASA. Broad incumbents are Flex Ltd, Hon Hai Precision (Foxconn), Jabil Inc. and Sanmina Corporation. Note-partner ENICS (private under Aspocomp/Investor ownership) is listed as a regional player.

Does NOTE have an API?

No public API is recorded for NOTE.

What industry is NOTE in?

NOTE's product category is Electronics Manufacturing Services (EMS). Its primary akta.pro industry code is HDAHAOAI, PCB Assembly (PCBA/EMS). Its NAICS code is 334418 and its SIC code is 3672.