Volume Up 41 percent as Company Revenues Finish at $4 Billion
Sydney, Australia – March 26, 2009 - Kingston
Technology Corporation, the independent world leader in memory products, today
announced that in 2008, it achieved a record 41-percent increase in total memory
units shipped over 2007 volume. Despite oversupply, average selling price erosion
and a weakened global economy contributing to a down year in the memory industry,
Kingston® gained significant market share in both DRAM and Flash memory. The
company’s global sales totaled $4.0 billion U.S., a $500 million decrease
from record-setting revenues in 2007.
“Kingston, like our competitors, was affected by the industry downturn and
memory chip saturation of 2008,” said John Tu, co-founder, Kingston. “However,
our strong finances and solid cash reserves allowed us to remain nimble and flexible
as we adjusted and adapted to the ever-changing market conditions. We consider
ourselves very fortunate to be in a secure position given the current state of
the economy.”
“We have always focused on improving efficiency but we’ve had to sharpen
that focus during this tough time,” said David Sun, co-founder, Kingston.
“The storm is not over yet, but we will be alright moving ahead. Since our
employees are as determined as John and I, and we have the continued support of
our partners, vendors and customers, we know things will work out just fine.”
Despite the drop in overall revenue, Kingston posted substantial increases in
unit volume in all product lines: Flash memory, Branded memory, ValueRAM®
industry-standard memory and HyperX® for gamers and enthusiasts. To sustain
the increasing market demands, Kingston continues to strengthen its global presences
and services. In the APAC region, Kingston has set up Far East headquarter in
Taiwan and local offices in China, India, and Vietnam to provide local sales contacts,
marketing supports, as well as quality after-sales services.
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 http://www.kingston.com/anz/
About Kingston Technology Corporation
Founded in 1987, Kingston Technology Corporation offers a wide range of quality
memory products and services designed for increased productivity and overall system
performance. Through its ownership of Kingston Technology Company, Inc. and Kingston
Digital, Inc., Kingston Technology Corporation is one of the world’s leading
manufacturers of memory modules and digital media products.
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Kingston and the Kingston logo are registered trademarks of Kingston Technology
Corporation. All rights reserved. All other marks may be the property of their
respective titleholders.
PR CONTACT
Renato Catalan
Gap Marketing and Management Pty Ltd
Website: www.gapmarketing.com.au
