Samsung Electronics sets $20b profit target by '12
Thursday, 29 November 2007
SEOUL, Nov 28 (AFP): South Korea's Samsung Electronics said today it is targeting 20 billion dollars in profits on sales of 150 billion dollars by 2012.
"Samsung Electronics has grown significantly for the past decade," Chu Woo-Sik, senior vice president for investor relations, told an IT show.
"But a tough road lies ahead for us to maintain such an expansion over the next 10 years."
Chu said Samsung "continues to find new growth engines in energy, biotechnology, health and environment."
Samsung, the world's largest memory-chip maker and third- largest manufacturer of mobile handsets, is facing stagnant business growth due to market saturation in its major sectors.
In 2006 its operating profit fell 14 per cent from the previous year to 6.93 trillion won (7.4 billion dollars) due to falling prices of flat panels and mobile handsets. Full-year sales rose three per cent to 58.97 trillion won.
"Samsung Electronics has grown significantly for the past decade," Chu Woo-Sik, senior vice president for investor relations, told an IT show.
"But a tough road lies ahead for us to maintain such an expansion over the next 10 years."
Chu said Samsung "continues to find new growth engines in energy, biotechnology, health and environment."
Samsung, the world's largest memory-chip maker and third- largest manufacturer of mobile handsets, is facing stagnant business growth due to market saturation in its major sectors.
In 2006 its operating profit fell 14 per cent from the previous year to 6.93 trillion won (7.4 billion dollars) due to falling prices of flat panels and mobile handsets. Full-year sales rose three per cent to 58.97 trillion won.