Kingston's co-founders will retain the remaining 20 percent equity interest in the new partnership. Memory, in addition to being one of the key enabling technologies for computer system and software performance, and constituting more than 20 percent of the retail value of a typical PC, is also the most rapidly growing segment of the overall semiconductor market. Reflecting the profitability and conservative fiscal management of the company, Kingston has grown without benefit of any outside financing, debt, or external equity placements since its inception. Kingston co-founders John Tu and David Sun will continue to manage the company, retaining all of its current management, its current personnel, and its operating philosophies.
Memory is essential to achieving software and hardware productivity and performance.
With the ever-expanding memory needs of today's PCs, workstations, and other digital appliances, the memory market opportunity is enormous. We look forward to a partnership that will not only serve the industry on an ever-expanding scale, but will embrace our culture and business values. Kingston designs memory modules for the world's leading branded computers. Leveraging Kingston's engineering strength, the modules are customized to ensure optimal performance, computability, and reliability. Its products are available through an extensive network of distributors, major reseller chains, and independent dealers.