Kingston earns $4.1bn globally in 2009
Dubai, February 10, 2010
US-based Kingston Technology, the independent world leader in memory products, has posted global revenues of $4.1 billion in 2009, a $100 million increase over 2008.
Kingston’s modest 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,” he added.
David Sun, co-founder, Kingston, said: “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.”
“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. – TradeArabia News Service