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PRESS RELEASE: SanDisk significantly expands sales of retail products in China
Company Signs First Three Retail Distributors In China: Genuine C&C Limited, Nice Gain Digital Company Limited And Princeton Technology C&C Corporation
SHANGHAI, CHINA, Oct. 20, 2003 - SanDisk Corporation (NASDAQ: SNDK) today announced that it has significantly expanded retail sales in China and signed its first three retail distributors in China. The announcement was made at a SanDisk press conference in Shanghai. SanDisk, which started selling its products at a limited number of retail stores in China a year ago, is today selling its products at more than 200 retail outlets in China with plans to add more stores in 2004 and 2005.
Nelson Chan, senior vice president and general manager of SanDisk's retail business unit, said, "China, with over 1.2 billion population, represents a huge market potential for SanDisk products. Communications and entertainment devices requiring portable storage are a daily part of life for an increasing number of Chinese business people, students and consumers. Multimedia mobile phones, digital cameras, PDAs and MP3 players are widely used in China and most of these devices use flash memory cards."
Chan explained "SanDisk is expanding its retail presence in China because the market for our flash memory cards and other products is growing rapidly in China. We are committed to making China one of our main growth opportunities in the coming years and signing these distributors and getting our products in more retail stores are important steps to achieve our goals. We believe that China can become one of our biggest markets."
SanDisk currently has a manufacturing presence in China as most of its memory card products are being assembled by contract manufacturers in the cities of Dongguan and Xixian in Guangdong province.
Genuine C&C, Nice Gain Digital Co., and Princeton Technology C&C Corporation will distribute SanDisk's complete line of flash memory cards, USB storage drives, digital photo viewers, card readers and card adapters into the digital imaging, consumer electronics and data storage markets. The memory cards are essential for digital cameras, digital video cameras, multimedia cell phones, MP3 players, PDAs and other mobile devices that rely on removable storage cards to store digital images, video, music files, personal information management systems and data.
Chan said, "Each one of our new distribution partners has strong relationships within the photographic, consumer electronics, mobile communications and information technology channels. With solid track records of serving the best retailers in China, they are making our storage cards and accessories available throughout the country."
Nice Gain Digital, the largest reseller for Nikon digital cameras and considered the leading distributor of digital imaging products in the region, is also one of the fastest growing companies in the area. Genuine C&C carries an extensive product line for IT and serves the Asia Pacific markets. Princeton Technology has significant relationships with major chain stores in China and also sells to Taiwan retailers.
SanDisk, the world's largest supplier of flash memory data storage card products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.
The matters discussed in this news release contain forward looking statements that are subject to certain risks and uncertainties as described under the caption, "Factors That May Affect Future Results" in the company's annual report on Form 10-K-A and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. The companies assume no obligation to update the information in this release.
SanDisk's web site/home page address: http://www.sandisk.com
All trade names are either registered trademarks or trademarks of their respective holders.
(First posted on Monday, October 20, 2003 at 13:25 EDT)