Its global market share overall was 14.1% in 2003, while Apple led with 21.6%. 1 position in the global market of flash players. The company was also selling hard drive players to compete with the iPod: the iHP-300 followed by the H300. It had also completed its IPO at KOSDAQ, a Korean stock exchange.
A year later, it was first to market with 512 MB and 1 GB flash players with its iFP-500 "Masterpiece" player. By the end of the year, iRiver had already gained as much as 20% of the domestic market and was steadily increasing popularity in foreign markets. This led to the release of their first DAP product, the iFP-100 "Prism" - named as such because of its distinctive shape designed by its design firm partner, INNO Design. In 2002, iRiver scrambled to develop its first flash memory player to meet demand from the U.S. iRiver was one of a number of South Korean companies who were dominating the worldwide MP3 industry in these early years. By now, iRiver portable CD players had achieved high domestic popularity and were also popular elsewhere. iRiver sold later models with its own SlimX brand, billing them as the thinnest MP3 CD players in the world. It and a later model, the iMP-250, were rebranded and sold by SONICblue in the United States under the Rio Volt name. The company's first iRiver product was the iMP-100, a portable CD player capable of decoding MP3 data files on CDs, released in November 2000. They decided to outsource manufacturing to AV Chaseway, in Shenzhen, China, and contract product design to INNO Design, an industrial design company in Palo Alto, California, while keeping R&D in-house. They formed ReignCom, with Yang as CEO, originally as a semiconductor distributor, then decided to capitalize on the growing MP3 player market. In 1999, Duk-Jun Yang and Rae-Hwan Lee left Samsung Electronics, along with five colleagues.
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