Symmetry Electronics Revenue and Competitors

Founded in 1998, Symmetry Electronics Corp. is an emerging leader in the electronics franchised distribution industry providing strategic business solutions to a broad base of customers in the computer, industrial/test, medical, datacom, telecom, contract manufacturing, lighting, consumer, memory, printer and multimedia markets. A relatively new distribution company, Symmetry Electronics continues to grow its business by evolving its partnerships from regional to national to international and by entering agreements with some of the nation's largest OEMs. Symmetry currently represents nearly 30 suppliers, two of which are among the largest semiconductor manufacturers in the world. Symmetry also has five exclusive lines in North America that include semiconductors, passive component products. Headquartered in Hawthorne, California, Symmetry Electronics employs a worldwide staff of 50 people in 12 locations including four in Mexico and tentative plans to expand into South America in the near future. The four-year-old distributor, which specializes in the sale of technology products and services, has seen its sales grow to $18 million in the first three years with projections expected to reach $25 million for 2002. The company began to grow just months after incorporation with offices eventually opening in San Jose and Orange County, Calif., and Phoenix by January 2000. Continuing its aggressive growth strategy, Symmetry recently opened offices in Boston, Dallas and Chicago with plans for a Southeast office location in 2002. In May 1998, Symmetry Electronics opened the doors of the first of four locations in Guadalajara, Mexico along with an eventual third-party warehouse facility. Establishing a strong, early presence in Mexico allowed Symmetry to get in on the ground floor of a market that has become the hotbed for electronics. The company has secured product lines representing several major suppliers that wanted a piece of this lucrative market, eventually making Mexico a significant piece of Symmetry's overall business. In 1999, Symmetry Electronics achieved its first ISO9002 certification and in 2002 had it extended. The company also established design win and production tracking programs between the US and Mexico OEMs/CEMs. In addition, Symmetry created a strong field sales organization and a knowledgeable, well-trained demand creation-oriented team, of which 25 percent hold Electronic Engineering (EE) degrees, to support the North American and Mexican markets. In 2001, Symmetry Electronics was still considered relatively new and unknown in the industry, but the company managed to expand its presence by successfully differentiating themselves from the competition. Symmetry continued to establish many value-added programs with key customers including technical support, logistics, order fulfillment, demand creation, warehouse/inventory control and supply chain management. Symmetry also focused more on a CRM-driven business model taking advantage of the latest in distribution technologies. This has enabled Symmetry to further evolve its Account Development Business Model. As a result, the four-year-old company was a candidate for making the industry's Top 50 & 75 distributor lists. At the close of 2001, Symmetry Electronics was looking to expand its position in various complementary product segments including communication, multimedia, and networking semiconductors, as well as with LCD/TFT Displays. With the support of its newly formed Target Market Development Group (TMDG) and Display Products Group, Symmetry successfully achieved growth in each of these areas. Some of the company's accomplishments in 2001 were attainable due to the company's willingness to invest in key growth areas like display product integration, strengthening the internal infrastructure with key CRM technologies, expanding the sales network by hiring seasoned industry veterans and adding new offices to increase its geographic reach. These accomplishments were recognized by the industry when Electronic Buyers News named Symmetry to its 2002 Top 50 Distributors listing. Through the experience and leadership of its growing senior management team, Symmetry plans to continue managing its growth by identifying key new market segments and supplier business opportunities while maintaining its unique customer service-oriented philosophy.