Fountain Valley, CA -- February 8, 2010 -- Kingston Technology Corporation, the independent world leader in memory products, today announced that its global revenues in 2009 reached $4.1 billion (U.S.), a $100 million increase over 2008. Kingston’s increase was attributed to a rise in average selling price, healthier demand from corporate end customers and consumers, and the company’s entry into the solid-state drive (SSD) market. The rise in revenue marks a change from the previous year when an oversupply in chips and a weakened global economy led to a downturn in the memory industry.
“The memory market saw some financial recovery last year like many other industries and Kingston was able to benefit from the general rise in DRAM and Flash pricing,” said John Tu, co-founder, Kingston®. “We also expanded our product line when we entered the SSD market at the beginning of 2009 and within 12 months, have gained a strong foothold in this burgeoning area.”
“A year ago at this time, we were bracing for a bad year. Our company was lucky to catch some good breaks along the way that worked in our favour,” said David Sun, co-founder, Kingston. “Together, with the support of employees, partners, vendors and customers, we were able to get through some tough times and see better days ahead. We are very happy to be where we are.”
The 2009 revenue figure marks Kingston’s second-highest grossing year since beginning operations in October 1987. Kingston’s highest-grossing year was in 2007, with revenues of $4.5 billion. Kingston first reached the $1 billion mark in global sales in 1995, surpassing it with $2 billion in 2004 and $3 billion in 2005.
For detailed information please visit the Kingston Web site at www.kingston.com/europe