Samsung Electronics Targets $80 Bil.in Sales in 2005
By Nho Joon-hun
Staff Reporter
Samsung Electronics is confident of realizing revenues of $80 billion in the year 2005 when its market capitalization is expected to reach $105 billion, a top Samsung official said yesterday.
Speaking at the World Congress of Korean and Ethnic Korean Scientists and Engineers, Lee Yoon-woo, CEO of Samsung's device solution network division, said Samsung's brand value will also increase to $15 billion.
``Our vision is to emerge as a global blue chip company by the year 2005 with revenues of $80 billion,'' Yoon said. Samsung Electronics posted sales of $24.4 billion last year.
For this to happen, Samsung intends to increase the number of its products that are in the world's top 10, adding digital television, third-generation mobile communications devices and peripheral computer equipment to the list.
Samsung currently has products in the global top 10 in the dynamic random access memory (DRAM) chip, static RAM, liquid crystal display, computer monitor, video cassette recorder and code division multiple access (CDMA) handset markets.
In addition to a tripling of revenue, Samsung Electronics's market capitalization is expected to increase from last year's $3.4 billion to $105 billion in 2005, Yoon asserted.
``At the same time, the brand value of Samsung Electronics will surpass that of other leading electronics companies like Sony, reaching $15 billion, up from last year's $6.4 billion,'' he said.
With ambitious goals, Samsung Electronics is moving briskly to secure the best brains in the business to boost its research and development efforts, Yoo added.
``Securing the best manpower is the prerequisite to becoming a truly global blue chip company, and we are placing top priority on this mission,'' the Samsung CEO explained.
Samsung currently has a combined workforce of 64,000, including those working in its facilities overseas, and 24 percent of them are devoted to research and development tasks.
Aside from presenting the vision for 2005, Yoon also discussed a number of projects that Samsung Electronics is pursuing to realize the convergence of digital technologies under the theme ``Digital & Co.''
jakenho@koreatimes.co.kr
입력시간 2002/07/12 18:
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