(
Kilo
Bits or 
Kilo
Bytes per 
SECond)  One thousand bits or bytes per second.  The correct abbreviation is "b" for bits and "B" for bytes; however, "b" and "B" are often erroneously interchanged.  See 
space/time, 
Mbps and 
Gbps.
Kilobits - "b" (Kbps, Kb/sec, Kb/s)
Kilobits per second is used to rate serial data transmission devices such as analog modems.
Kilobytes - "B" (KB/sec, KB/sec, KB/s)
Kilobytes per second is used to rate parallel data transfers such as from memory to disk in early computers.