SanDisk 2014 Annual Report Download - page 121

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The changes in our revenue by category for fiscal year 2014, compared to fiscal year 2013, were due
primarily to the following:
• Removable revenue for fiscal year 2014 comprised 38% of our revenue mix and revenue was lower
by 5% year-over-year, due primarily to lower sales of imaging cards, USB drives and gaming cards.
• SSD solutions achieved 29% of our revenue mix for fiscal year 2014, with a 61% year-over-year
revenue growth rate. We experienced rapid growth in sales of both client SSD solutions and
enterprise SSD solutions, with growth in enterprise SSD solutions partially benefiting from our
acquisition of SMART Storage in August 2013 and our acquisition of Fusion-io in July 2014. We
expect our client SSD solutions revenue to decline in fiscal year 2015, compared to fiscal year 2014,
due to a large customer moving away from our client SSD solutions, starting in the first quarter of
fiscal year 2015.
• Embedded revenue for fiscal year 2014 comprised 22% of our revenue mix and was lower by 11%
year-over-year, due primarily to lower sales of custom embedded solutions.
Removable revenue for fiscal year 2013 comprised 43% of our revenue mix and was stable, compared
to fiscal year 2012. SSD solutions achieved 19% of our revenue mix for fiscal year 2013 with a 170%
year-over-year revenue growth as SSD solutions were the fastest growing revenue category. Embedded
revenue for fiscal year 2013 comprised 27% of our revenue mix with a 37% increase year-over-year
revenue growth related to higher sales of embedded memory for mobile devices.
Revenue by Geography.
FY 2014 FY 2013 FY 2012
Percent Percent Percent
Revenue of Total Revenue of Total Revenue of Total
(In millions, except percentages)
United States ............... $ 1,136.3 17% $ 877.8 14% $ 714.3 14%
Asia-Pacific ................ 4,355.3 66% 4,209.8 68% 3,467.7 69%
Europe, Middle East and Africa . . 814.8 12% 780.1 13% 642.5 13%
Other foreign countries ........ 321.3 5% 302.3 5% 228.0 4%
Total revenue ............. $ 6,627.7 100% $ 6,170.0 100% $ 5,052.5 100%
The changes in our revenue by geography for fiscal year 2014, compared to fiscal year 2013, were due
primarily to the following:
• Revenue in the U.S. increased in fiscal year 2014, compared to fiscal year 2013, due primarily to
increased sales of client and enterprise SSD products and cards for mobile devices, partially offset
by lower sales of imaging cards and USB drives.
• Revenue in Asia-Pacific increased in fiscal year 2014, compared to fiscal year 2013, due primarily to
increased sales of client and enterprise SSD products, wafer and components, and cards for mobile
devices, partially offset by lower sales of embedded products, gaming cards and imaging cards.
• Revenue in the Europe, Middle East and Africa, or EMEA, increased in fiscal year 2014, compared
to fiscal year 2013, due primarily to increased sales of client and enterprise SSD products, partially
offset by lower sales of imaging cards and USB drives.
• Revenue in other foreign countries decreased in fiscal year 2014, compared to fiscal year 2013, due
primarily to lower sales of imaging cards and cards for mobile devices, partially offset by higher
sales of embedded products.
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Annual Report