Computer memory device maker Strontium Technology today said it targets more than 40% growth in revenues in 2011 to touch $300 million, driven by emerging markets like India, Brazil, Indonesia and China.
The company excepts about 30% of the $300 million revenue to come from the Indian market.
"We have witnessed strong growth across DRAM (computer memory chips), USB drives, micro SD cards (mobile phone memory chips) and external hard drives. By the end of 2011, India should contribute as much as 30% of our revenues," Strontium Technology Director and Co-Founder Vivian Singh said.
According to the third party numbers, the channel (distributor) market in the country for memory products is estimated to be about $800 million.
The Singapore-headquartered company registered revenue of $210 million in 2010.
Strontium, which has a headcount of 100 people, has manufacturing unit in Singapore. Asked if the company would look at setting up a manufacturing unit here, Singh said, "We are open to the idea. However, the policies here leave less scope for margins, which is anyway low in our industry. More incentives are required to make companies come and invest in India."
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Strontium is ramping up its presence in the country and is opening sales offices in cities like Bangalore, Kolkata and Mumbai. It has 20 people in the country and will ramp the number to 35 by December-end, Singh said.
The company today launched products like gaming memory modules and hard drives.