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A review of typical electronic component failures shows that failures occur because of insufficient reliability per component, combined with the multiplicity of components utilized in typical electronic assemblies. Further, it is shown that failures do not occur in a manner described by the classical Gaussian description but rather by an exponential description which indicates a decreasing number of failures per unit time with time. Means for increasing reliability of components are discussed, with emphasis on mechanical ruggedness and resistance to severe environments. Replacement of electronic tubes by transistors and magnetic amplifiers is also discussed.