SanDisk 2005 Annual Report Download - page 5
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Growing New Markets and Revenue Diversification In 2005 we continued our diversification into new
consumer markets for flash memory storage. Our mobile cards for handsets ramped during the year, and we
gained broad industry adoption for our microSD
TM
card format. FeatureÓrich handsets with card slots are
rapidly becoming one of our most important new markets as consumers begin to store content such as music,
games and photos. We are pleased with our strong penetration at the top ten handset equipment manufactur-
ers and with worldwide major mobile operators. We are also pleased with the growth in our MP3 line of
products. Despite a hugely competitive landscape against well-known name brands, we have a clear #2 market
share position in the U.S. and this market has become one of the largest applications for NAND flash
memory. In the USB drive market we are focused on future differentiation in areas like security and in
expanding drive functionality from just ""dumb'' storage to a true portable, personal-workspace. SanDisk's
leadership in the digital imaging market continued in 2005 as we increased sales of high-end cards such as our
Ultra, Extreme and SD
TM
Plus lines of products. The gaming market is our newest market and these brightly
colored cards, used primarily in portable game devices, are expected to become a sizable revenue contributor
in the coming years.
SanDisk today is a multifaceted corporation: we are a vertically integrated semiconductor memory specialist
with an exceptionally competitive cost structure and a strong balance sheet, we are a rapidly growing consumer
branded global market leader, and we are a leading IP provider and product innovator. These fundamentals
give us the confidence and the optimism to continue to grow, innovate and prosper in the coming years.
We very much appreciate the continuing support and confidence of our customers, employees and
stockholders.
Store Your World in Ours@!
Eli Harari
President and Chief Executive Officer