Samsung targets 27% growth

Samsung hopes to grow its Middle East and Africa revenues by 27% to US$1.9 billion in 2003. Key to this growth will be the introduction of new products that deliver on the vendor’s digital convergence strategy.

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By  Matthew Southwell Published  April 27, 2003

Samsung Electronics hopes to grow its Middle East and Africa revenues by 27% to US$1.9 billion in 2003. Key to this growth will be the introduction of new products that deliver on the vendor’s digital convergence strategy, which purports to ‘create a family of connected devices that can be accessed through a single window, from any part of the world.’

“Samsung had set aggressive plans to capitalise on the growth opportunities in the growing Middle East and Africa market,” confirms B.W. Lee, president & CEO of Samsung Middle East & Africa.

“The growing internet and PC penetration levels in the region, coupled with business and IT-friendly policies pursued by regional governments, will enable us to further build on this strong showing. We intend to strengthen our position by introducing a range of innovative digital products that are consistent in line with our global vision of digital convergence,” he adds.

A successful 2003 will boost the vendor’s coffers yet further as it pulled in an impressive US$1.5 billion during 2002. Once again, Lee believes Samsung’s innovative product lines were responsible for its high revenues last year.

“The company’s strong showing in 2002 was mainly fuelled by the introduction of cutting-edge digital technologies to the region,” he says.

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