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 (9382)	4/8/2004 8:28:16 AM
From: Proud_Infidel	Respond to of 25522

UPDATE - Samsung Elec sees '04 mobile sales topping estimates Thursday April 8, 2:29 am ET By Jean Yoon and Kim Miyoung (Adds president's quotes, global forecast, details, shares) SEOUL, April 8 (Reuters) - Samsung Electronics Co Ltd (KSE:005930.KS - News) said on Thursday phone sales were likely to be better than projected in 2004, the second time in two months the world's third-largest mobile phone maker has flagged strong expectations. "We expect handset sales to be better... We are witnessing stronger demand from all regions -- the United States, Europe and Asia," Lee Ki-tae, president of Samsung's telecommunication network, told a lunch meeting with reporters. "There's huge replacement demand from consumers switching to colour from black and white and to GPRS from GSM," he said. Samsung said last month it expected its mobile phone sales to top an earlier target of 65 million in 2004 and beat last year's 55.6 million. Analysts are more bullish, with Deutsche Bank predicting 2004 sales of 79 million and BNP Paribas Peregrine 82.2 million. The positive comment contrasts with a downbeat forecast from Nokia (NOK1V.HE) this week. The world's largest mobile phone maker trimmed its quarterly earnings forecast and said its handsets had not kept pace with consumer demands, allowing rivals to take away market share. Samsung, which has wooed consumers with sleek, folding mobiles incorporating colour screens and cameras, has aggressively sought sales in emerging markets as well as from pickier customers in rich countries, putting pressure on rivals Nokia and Motorola Inc (NYSE:MOT - News). Mobile phone makers are also benefiting from booming emerging markets such as China, India, Brazil and Russia, where they sell relatively cheap handsets to first-time buyers. Samsung has said it expected to sell more than 19.5 million phones in the first quarter, according to a source, up from a previous estimate of 17 million. Shares in Samsung Electronics, Asia's most valuable technology stock with a market value of $84.8 billion, closed up 0.8 percent at 605,000 won, in line with a 0.8-percent rise in the broader market (KSE:^KS11 - News). Lee also forecast the global handset market would reach 560-570 million units this year, slightly short of research group Gartner's 580 million forecast, which is a rise of nearly 12 percent from 520 million in 2003.