In order to solve the problem of complicated electronic equipment structure, inadequate fault information, hard to predict the fault and the existing failure prediction method cannot predict the state of the electronic equipment and other issues directly, we propose a combination failure prediction methods of least squares support vector machine (LSSVM) and hidden Markov model (HMM) based on Condition Based Maintenance (CBM). First, according to sensitivity analysis to determine the circuit elements to be changed to set the circuit by changing the parameters of the different components degraded state; secondly, create a combination failure prediction model; Finally, the circuit state prediction. The results show that the proposed method can directly predict the different states of the circuit, so as to realize the fault state prediction of the electronic equipment directly, the prediction accuracy can reach 93.3%.