Raspberry Pi boasts of growing demand for its small computers

The British maker of single-board computers Raspberry Pi has predicted steady growth in demand this year – by the end of 2024, the company exceeded revenue expectations, which was helped by sales of the flagship Raspberry Pi5 and peripherals, Reuters reports.

Image source: raspberrypi.com

The company, which makes low-cost single-board computers, accessories, and microcontrollers, went public in June last year. Its products are used in smart home systems, robotics, automated systems, and game emulators. For the manufacturer, 2024 will be marked by going public, releasing updated platforms, and increasing production of the Raspberry Pi5 and its derivatives, said the company’s CEO Eben Upton.

«“There was always a risk that people would think that once you went public you would be a villain. But the benefit of that was the release of interesting new products at our prices,” the head of the company said. In the UK, the top version of the Raspberry Pi5 with 16 GB of RAM sells for £115 ($148); the manufacturer has sold 1.9 units of this model in a year. The company’s shares were valued at £2.80 when it went public; this morning they were worth £5.00.

The technological solutions that the company has allow it to produce high-performance electronics at a low price. If the US imposes duties on Raspberry Pi5 products, they will become more expensive for residents of the country, and the manufacturer does not have a single competitor that would benefit from this. If an American company decides to produce such products, many of the components required for production will also be subject to duties. By the end of 2024, 29% of Raspberry Pi units were sold in the US.

The company’s core revenue for the year was $37.2 million, compared to analysts’ forecast of $36.6 million, but this is 15% less than in 2023 due to inventory issues in the second and third quarters.