Samsung Electronics sets 20% sales growth target

  • Business
  • Wednesday, 22 Jan 2003

SAMSUNG Electronics Co Ltd reported sales worth US$190mil in Malaysia last year and has set a 20% target growth in the current financial year. 

Its Malaysian chief representative Kim Jeong Wook told a press conference in Kuala Lumpur yesterday that the bulk of last year's sales was contributed by mobile phones, followed by household appliances and monitor. 

He said Samsung, which already has a manufacturing base in Malaysia, intended to intensify marketing efforts so the brand name becomes more familiar with the people.  

Kim Jeong Wook

“Our marketing budget for last year was US$9mil and we expect it to be higher this year,” he added. 

Kim said Samsung's continued investment in global marketing has also paid off, with its global brand value rising 30% from US$6.4bil in 2001 to US$8.4bil in 2002. 

“Samsung sees Asia as a strategic market because of its population size and potential economic growth,” he said. 

The company's strong performance, in terms of both financial results and product design has been recognised by various industry awards and rankings last year. 

In June, Samsung took the number one position in the Business Week IT 100, which ranks the world's best technology companies.  

The ranking is based on revenue, revenue growth, return on equity, total return and profit. 

According to Kim, Samsung's product rollout for this year will re-emphasise the company's commitment to bringing the power of digital technology users from all walks of life. 

Some of the products to be launched in Malaysia this year include an Internet-enabled refrigerator, a 63” plasma display panel television, a high definition television, and a camcorder that comes with a built-in camera. 

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