Samsung Electronics aims for above-market sales growth

SEOUL, March 13 (Yonhap) -- South Korean electronics giant Samsung Electronics
Co. will try to achieve market-outperforming sales growth this year despite the
global economic downturn, its chief executive said Friday.
"Although most advanced economies are expected to shrink this year, we will make
efforts to attain sales growth outperforming the market," Samsung Electronics CEO
Lee Yoon-Woo said in a message to an annual shareholders meeting.
Samsung Electronics, however, did not unveil its sales target for this year. At
last year's shareholders meeting, the company announced it would achieve 70
trillion won (US$50 billion) in sales for 2008.
"In this challenging business environment, Samsung is focusing its resources on
enhancing our competitiveness to maintain market leadership through investments,"
Lee said.
Lee said the company will continue investment to increase technological edges in
key sectors, such as memory semiconductors and liquid crystal displays, and to
enhance its dominance in the high-end and large-screen TV market.
Samsung Electronics reported to the meeting that it posted a net profit of 5.53
trillion won for 2008, down 26 percent from the previous year. Full-year sales
gained 15 percent to 72.9 trillion won.
The company posted its first-ever quarterly loss in the final quarter of 2008 as
the deepening global economic recession battered demand for chips, mobile phones
and other electronic devices.
ygkim@yna.co.kr
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