Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (277)	11/5/2001 7:43:28 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Korea's Samsung says to double sales in China by `05 SEOUL (Reuters) - South Korea's largest business conglomerate Samsung Group said Saturday that it would double its sales of electronics products in the Chinese market to $14.5 billion by 2005 from the current $7 billion. The announcement came after heads of Samsung's electronics firms including world's top memory chipmaker Samsung Electronics Co Ltd, display maker Samsung SDI Co and electronics parts maker Samsung Corning Co Ltd held a strategy meeting in Shanghai on Friday. ``We will boost sales in the Chinese market by more than 20 percent every year, aiming to become one of the top five electronics makers in China which is emerging as the world's second largest economy after the United States,'' Samsung said. Samsung said in a statement it would adjust its product portfolio for the Chinese market to include high-value added products including wireless communication products, personal computers and digital consumer electronics products. Samsung Electronics, the flagship company of the business group, is in talks with Chinese mobile phone maker China Kejian Co and two other Chinese partners to produce CDMA (code division multiple access) handsets. Samsung, which is also the world's fourth largest chipmaker, will bolster its semiconductor market share by taking advantage of its chip assembly line in China and setting up a sales distribution firm in Shanghai. Shares in Samsung Electronics closed up 4,000 won, or 2.2 percent, to 183,000 won ($142.3) on Friday versus a 1.19 percent rise in the benchmark KOSPI index.