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Electronics Production | September 06, 2010

Digi-Key surpasses USD 1 billion in annual worldwide sales

The electronic components distributor Digi-Key has surpassed USD 1 billion in worldwide sales in 2010. While the company anticipated reaching this milestone in 2010, the achievement came ahead of schedule.
"Reaching and surpassing USD 1 billion in annual worldwide sales is a major accomplishment for Digi-Key and one for which we have diligently worked", said Mark Larson, Digi-Key’s president and COO. "Digi-Key has grown by an average of 15% 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 USD1 billion in sales in 2008 before the global economic recession caused sales to decrease in the last half of the year. Despite the economic downturn and a decrease in sales of nearly 6% for 2009, Digi-Key gained market share in the down market.

Digi-Key’s worldwide sales have increased by more than 75% year over year. The company is projected to reach nearly USD1.5 billion 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).

Digi-Key’s growth is partially attributed to increased sales in Brazil, China, Europe, India, Japan, Mexico, Russia, and other regions around the world. Below is a list of several countries in which Digi-Key experienced increased sales year over year for January through June 2010:

• Brazil – increase of 68.4%
• China – increase of 342.76%
• Estonia – increase of 99.22%
• Germany – increase of 163.22%
• Hungary – increase of 216.25%
• India – increase of 61.88%
• Japan – increase of 139.92%
• Lithuania – increase of 190.02%
• Mexico – increase of 109.89%
• Romania – increase of 256.34%
• Russia – increase of 119.75%
• Slovakia – increase of 224.97%
• Spain – increase of 137.03%
• Switzerland – increase of 198.91%
• Ukraine – increase of 80.74%
• United Kingdom – increase of 113.71%

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