14 DAY TRIAL // Kingston Technology, the independent world leader in memory products, has just announced its financial figures for 2008, having achieved a record 41-percent increase in total memory units shipped over the 2007 period. The company's announcement comes at a time when most corporations have recorded lower than expected revenues and a reduction in market share. However, despite oversupply, average selling price erosion and a weak global economy, Kingston managed to gain a significant market share in both DRAM and Flash memory.
“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.”
Kingston's global sales totaled US$4.0 billion, a US$500 million decrease from the company's revenues in 2007. This comes as another milestone for the manufacturer, which reached its US$1 billion mark in global sales back in 1995, US$2 billion in 2004 and US$3 billion in 2005. The company's Flash memory, Branded memory, ValueRAM industry-standard memory and HyperX product lines have all seen an increase in unit volume.
“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.”
Kingston's product lineup includes anything from computer memory and memory cards to Flash-based storage and media readers. Aside from their wide range of Flash-based products, Kingston also provides its customers with an extensive support.