Samsung sees surge sales of electronics
(Shanghai Daily)
Updated: 2006-06-14 14:50
Samsung Group expects its China revenue to jump almost 20 percent in 2006
thanks to surging demand for mobile phones, liquid crystal display TVs and MP3
players, the South Korea-based electronics maker said yesterday in a statement.
Samsung's China revenue is forecast to reach US$31.0 billion this year
compared with US$25.3 billion in 2005. The company's investment in China will
rise 8 percent this year to hit US$5.1 billion, according to the statement.
Samsung's business scope covers mobile phones, LCD TVs, home appliances, MP3
players, computers, digital cameras and video products.
China adds 5 million mobile phone subscribers each month on average, bringing
its total user base to 415.19 million at the end of April.
In the fiercely competitive market, Samsung, the No. 3 handset vendor in
China, faces pressure from rivals including Sony Ericsson and LG, which
strengthened design and multimedia functions. Other firms such as Nokia and
domestic outfits are trying to build market share by selling entry-level models.
Demand is also surging for LCD TVs, but prices are dropping dramatically,
often 10 percent a quarter, according to Samsung.
"In China, our basic strategy is to maintain a high-end brand image," Samsung
said in the statement.
The electronics maker, in conjunction with Sony, plans to invest US$2 billion
to build an LCD panel plant in Japan to make 50-inch or larger LCD panels for
big-screen TVs.
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