Samsung targets USD3.5 billion in Middle East '05 revenues

Maintaining its year-on-year growth of 30 per cent Samsung has reported a remarkable performance in 2004, with annual sales revenues in the MEA region crossing US$2.7 billion.

Mr. B. W. Lee, President and CEO, Samsung Middle East and Africa, said: "Samsung's growth in the MEA region has been primarily led by its ability to successfully tap emerging markets as well as customers in developed ones with an extensive range of mobile phones, flat-panel displays and monitors. This year, we will continue to focus on major markets including, UAE, Saudi Arabia, Iran, Iraq and Pakistan to further increase our sales and market share."

For 2005, Samsung has lined up a host of technologically advanced, first-of-its-kind digital products such as feature-powered PDAs, mobile phones, sophisticated software-enabled monitors, 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.

"We intend to fortify our leadership position based on a combination of innovative designs, cutting-edge technology and aggressive marketing. In 2004, Samsung unveiled an extensive range of award-winning, cutting-edge digital devices that wowed audiences across the region. 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, Mr. Lee added.

One of the key products that Samsung expects to lead the Middle East market will be its highly-acclaimed PDA (Personal Digital Assistant) phone, SGH-i700, which is scheduled to be launched by mid-2005. The phone was showcased along with a range of advanced mobile handsets and state-of-the-art digital products at the company's 'digital convergence' theme-inspired pavilion in GITEX last year.

Samsung's current mobile phone market share stands at 20 per cent in Middle East and Africa and at 30 per cent in UAE. Furthermore, the company has initiated discussions with concerned authorities for 3G handsets following the rollout of 3G services across several countries in the region.

"In 2004 the telecom industry witnessed some momentous events that opened up unexplored markets within the Middle East region. The emergence of new GSM operators in Iran and the urgency to rollout 3G services in UAE, Bahrain and KSA are all emerging business opportunities that Samsung is well equipped to capitalise on for future growth," Mr. Lee concluded.

According to a BusinessWeek magazine and Interbrand Consultancy's 2004 survey of the top 100 global brands, Samsung was ranked the 21st most valuable brand in the world. Samsung's brand value registered a 16 per cent growth over last year, more than doubling its value from the $5.2 billion in 2001 to $12.5 billion in 2004.