At a press briefing last week, Samsung president and chief executive officer Sang Youl Eom told reporters that the Korean electronics giant is poised to ship in no less than 225,000 units, or a 50 percent hike from 150,000 sets it sold last year.
"This year, we are targeting a 50 percent growth in handset sales and a 100 percent increase in revenues," he said.
He said Samsung Phils. posted P2 billion in total revenues in 2002. He made a sales forecast of P4 billion this year despite the uncertain global economy, with the possibility of war in Iraq.
"We are not pessimistic even with the possibility of a war," he said.
Analysts have projected that the global shipment of mobile phone would grow by 10 percent through 2005.
"It would grow 10 percent or slightly more than the 2002 mark of 400 million," according to Nokia, the world’s largest maker of mobile phones.
Dow Jones expects mobile phone sales to reach 440 million this year, while Merrill Lynch made a more optimistic projection of 470 million.
Sang said Samsung is aggressively "pushing itself for the second slot in the local mobile phone race."
To realize its growth targets, the company launched during its annual dealers’ night, four new models with cutting-edge features that would give competitors a run for their money.
Samsung vice president for sales and marketing Maengdal Bae said the new models were developed to highlight color and sound features such as 65,000-color screens and up to 40 polyphonic ringtones.
The new models are the SGH-A800, SGH-A500, SGH-T500 and SGH-T200, each targeting specific market.
One of the three largest cellphones manufacturers in the world, Samsung has been cited by the Western media to be the most promising brand owing to its innovative technology and bold marketing moves, introducing some 40 models in 2002.
Despite its late entry in the local industry in 2000, Samsung has done a sterling job in developing its telecoms market, establishing a network of over 700 dealers and 2,000 retail shops nationwide.
The cellphone boom in the Philippines started in the mid-1990’s when Smart, Piltel and Globe Telecom stormed the market with an array of sales and marketing moves, making the country one of the most attractive markets for sellers in Southeast Asia.
The sector hit the 15-million mark at the end of 2002, according to the National Telecommunications Commission. It is poised to grow by two percent this year, with a projected teledensity (or the number of phones per 100 people) of 20 percent, up by four points from 16 percent in 2001.
An NTC report showed that competitive pricing drove consumers to prefer cellular phones over landlines.
Samsung is a conglomerate of 63 subsidiaries that has key interests in the electronics, chemical, machinery, financial and service sectors, employing a 180,000-strong workforce.
Samsung Electronics Co. Ltd., one of the subsidiaries, employs approximately 66,000 people in 46 countries. It consists of four main business units – telecommunication, device solution, digital media and digital appliances.
In 2002, Samsung posted $34.4 billion in revenues and a net income of $6 billion. It targets $67 in 2005 and $100 billion in 2010. It contributes 12 percent to Korea’s total export value.
The company ranked first in the Information Technology 100 of Business Week. It was also 34th among the top 100 brands selected by Interbrand.