Kingston Technology announces record revenues

stack of coins representing revenue

Memory manufacturer Kingston Technology has announced that its global revenues in 2010 soared to a record $6.5 billion. That's the highest ever revenue in the company's history and the $2.4 billion increase in sales over 2009 was attributed primarily to a rise in average selling price and increased shipment volume.

Kingston Technology's revenues were $4.1 billion in 2009. The company’s second-highest grossing year was in 2007, when sales reached $4.5 billion and Kingston first reached the $1 billion mark in global sales in 1995, besting it with $2 billion in 2004 and $3 billion in 2005.

Kingston saw a rise in average selling price for most of its product lines in 2010, particularly during the first quarter, and this was a trend which continued for the rest of the year. Healthy demand from both corporate customers and consumers was also evidenced by growth in its OEM and Flash business divisions.

“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 at Kingston. “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.”