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GMI Technology Quadruples Hard Disk Drive Shipments in 2008

GMI Technology Inc. today announced record shipments of hard disk drives (HDDs). For the year ending December 31st, 2008 unit shipments increased 331% from the previous year. All HDDs were sourced from GMI Technology is two strategic partners, Hitachi Global Storage Technologies and Toshiba Digital Media Network.
Commenting on the announcement, Pete Andreyev, vice president of GMI Technology, said, “We are extremely pleased with the continued growth in our HDD business, and are proud to be the fastest growing HDD provider in the rapidly growing Greater China market. In addition to our outstanding unit shipment growth, we have significantly increased our sales revenue and profit from this segment. HDDs are a strategic focus for GMI Technology and complement our consumer electronics and IT product lines well. We have now achieved our strategic objective for HDDs to become one of our company’s core businesses, several quarters earlier than planned. We continue to be very optimistic about GMI Technology is future growth in this segment. We greatly appreciate the outstanding support from our strategic hard disk drive partners, Hitachi and Toshiba, to enable our achievements.”