28 June 2012
PHOENIX–If it's tough for an ex-contract manufacturing executive to admit it, Ed Smith doesn't show it.
"America's going to become the land of innovation, not the land of manufacturing," said Smith, a former CEO of a contract manufacturing company who now is president of Avnet Electronics Marketing Americas here.
"Everybody says everything moved to China," he said. "China doesn't innovative anything. First of all, China doesn't have the capital base to innovate. You need capital to innovate. We'll continue to innovate because that's just our culture. Our culture is very innovative."
Smith, in an interview here, also said on the downside our culture is becoming very pessimistic as well, but he implied that the pessimism and negativity that resounds through the media is actually balanced by the spirit of innovation that gets underreported.
Here's Smith on innovation, pessimism and the future of electronics: