Korea’s Samsung expects 50% growth in sales of IT products

Korea’s Samsung Electronics Philippines Corp. (SEPCO) is projecting a strong 50-percent growth in sales of its information technology (IT) products and an overall growth of 35 percent this year, according to Hyuck Jae Shim, president and chief executive officer of SEPCO.

Samsung’s products ranges from local manufacturing of optical disc drives and sales of consumer electronic products – from refrigerators, air conditioners, washing machines, television sets and mobile phones – to IT products that include printers, copiers and scanners, and computer monitors.

Samsung Philippines posted $300 million in sales last year.

In a press presentation yesterday of its latest IT products, Shim was confident of increasing Samsung’s market share of IT products due to the competitive pricing, design and functionality of its printers, copiers/scanners and computer monitors.

For its printers and monitors alone, Shim projects a 25-percent growth.

Samsung liquid crystal display (LCD) monitors, Shim boasted, are already No. 1 in the Philippines, while its printers are already No. 2.

Sales of IT products, Shim revealed, contribute 20 percent to Samsung’s total revenues.

Sales of consumer electronics contribute another 20 percent and the remaining 60 percent is derived from Samsung’s exports and sales of optical disc drives, semiconductors and mobile phones.

Mobile phone sales, Shim said, is also expected to post a 20 percent growth.

Samsung mobile phones, in fact, Shim revealed, is already No. 2 in sales in the Philippines next only to Nokia.

Samsung printers were introduced in the Philippines only in the last quarter of 2004.

Apart from its local production of optical disc drives, however, Shim admitted that Samsung has no immediate expansion or manufacturing plans for the Philippines.

Most of Samsung’s products sold in the Philippines are imported from its other subsidiaries in the region.

Its monitors are imported from Malaysia while its printers come from Korea and China.