$4 Billion in Revenue for Kingston Technology in 2008

Kingston Technology Corporation 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. Kingston first reached the $1 billion mark in global sales in 1995, surpassing it with $2 billion in 2004 and $3 billion in 2005.