Digi-Key says it has surpassed $1bn in worldwide sales in 2010.
"Reaching and surpassing $1bn in annual worldwide sales is a major accomplishment for Digi-Key and one for which we have diligently worked," said Mark Larson (left), Digi-Key’s President and Chief Operating Officer. "Digi-Key has grown by an average of 15 per cent each year since 1987. This is real, organic growth – not the result of acquisition, but growth based on Digi-Key’s expanded reach to customers around the globe."
The privately held electronic component distributor was on track to reach $1bn in sales in 2008 before the global economic recession caused sales to decrease in the last half of the year.
"Digi-Key gained market share in the down market of 2009 because our decrease in sales was about half that of the electronic distribution industry. Digi-Key is gaining share in the up market of 2010 as our sales increase at a rate almost twice that of the industry," Larson said.
As of today, Digi-Key’s worldwide sales have increased by more than 75 per cent year over year. The company is projected to reach nearly $1.5bn in worldwide sales for 2010.
"Much of our sales growth can be attributed to Digi-Key’s expanding presence online," said Tony Harris, Digi-Key’s chief marketing officer (CMO). "We are targeting several initiatives to give our customers a myriad of resources for product information, education, application, and selection on our website with more to come in the future."
Digi-Key has seen growth in many geographic regions including 163 per cent in
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