BusinessWeek's IT report declares Samsung 3rd biggest IT Company in the world

The BusinessWeek '100 INFOTECH" list is based on an in-depth study of all IT companies' strong performance across various critical parameters including revenues, revenue growth, return on equity, shareholder return and profits.

Commenting on the company's strong showing, Mr. B.W. Lee, President and CEO, Samsung Electronics Middle East & Africa Headquarter (MEAHQ) said: "Samsung Electronics has surpassed several leading IT companies globally to achieve the 3rd biggest IT company position. This stands testimony to our commitment to consistently provide our customers with an unprecedented technology experience. In the Middle East region too, Samsung has succeeded in redefining the technology benchmark for the consumer electronics, telecommunications and IT industries."

Samsung ignited the regional mobile communication industry earlier this year with launch of its path-breaking E-700 and X-600 colour LCD camera mobile phones. The company followed this by showcasing a range of cutting-edge flat panel televisions, including the world's largest TFT-LCD (54-inch) and PDP (80-inch) televisions. More recently the company brought to the region a range of highly advanced Magic-series TFT-LCD and CRT monitors that established a new technology benchmark in the regional computer display market.

In 2003, Samsung reported a remarkable performance by crossing the two billion dollar sales mark in the Middle East and Africa (MEA) region. This year the company aims to grow its revenues by 35% to $2.7 billion in MEA.