Money, money, money
Privately-owned Kingston Technology Corporation has revealed that it reaped its highest ever global revenues in its company history.
The memory products firm said its global revenues soared in 2010 to a record $6.5bn, an impressive $2.4bn increase in sales over 2009 levels.
It reckons the increased revenues are mainly down to a rise in the average selling price of memory products and increased shipment volume.
Kingston saw a rise in the average selling price for most of its product lines in 2010, particularly during the first quarter; but the trend continued for the rest of the year too.
The firm said that demand for its products was ‘healthy' for both its corporate and consumer customers, demonstrated by growth in the OEM and Flash divisions of its business.
"Our company was able to take advantage of an improving global economy as well as catch some lucky breaks to achieve our best sales year ever in 2010," said David Sun, co-founder of Kingston Technology.
"We are very fortunate to have dedicated and hard-working employees who work tirelessly alongside our partners and vendors, to make sure that Kingston's customers are treated with respect and always taken care of," he added.
Kingston's revenues were $4.1bn in 2009 and peaked at $4.5bn in 2007, its biggest year before the 2010 announcement. The firm first hit its $1bn mark in terms of global sales back in 1995 then reached $2bn in 2004 and $3bn in 2005.