Samsung targets high revenues

Samsung electronics, the global leader in digital technology, announces that it is targeting revenues of US$ 3.5 billion in the Middle East and Africa region for 2005.

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By  Shankar Sharma Published  March 13, 2005

Reporting annual sales revenues in MEA of US$ 2.7 billion for the year 2004, Samsung hopes to continue its year-on-year growth of 30%. The company’s MEA division, headquartered in Dubai, aims to market its digital devices portfolio through four product divisions: audio-visual (AV); handheld products (HHP); home appliances (HA); and information technology (IT). B.W. Lee, president Samsung MEA, outlines the company’s global vision of ‘digital convergence’ in the region. “Samsung’s growth has been led by its ability to tap emerging markets,” he says. “We will continue to focus on major markets including UAE, Saudi Arabia, Iran, Iraq and Pakistan.” Through a network of over 40 distributors, Samsung MEA looks after the distribution of its digital devices across the Middle East and Africa region. The company has also invested in a service subsidiary, located in the Jebel Ali Free Trade Zone in Dubai. The service facility recently completed nine years and is among the largest within the GCC countries. For this year, Samsung has lined up a series of pioneering, technologically advanced, digital products, keeping true to its tradition of delivering innovative designs, cutting-edge technology and aggressive marketing. Products to be expected include feature-powered PDAs, mobile phones, and sophisticated software-enabled monitors, thus helping the company’s pole position status in the market. Consumers can also expect an extensive line-up of flat-panel displays comprising LCDs and Plasma TVs, minimalist-design multifunction printers and sleek digital devices such as MP3 players and Digital Video Camcorders in 2005. “This year we will continue to build on this unrivalled benchmark that we have established and empower customers with best-of-breed digital devices that will transform the face of digital entertainment in the region,” Lee adds.

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