Friday, August 01, 2008

Samsung expects 2008 China sales up to US$33 bln

Samsung Electronics Co. Ltd, one of the world's largest semiconductor manufacturers and South Korea's top electronics company, expects that revenue from its China operations will reach US$33 billion in 2008, nearly doubled from US$17 billion in 2005, sources said citing Keun-HeePark, CEO of Samsung Greater China Region, as saying Wednesday.

The Korean technology giant will invest more than US$100 million to sponsor the upcoming Beijing Olympic Games, said the sources, in an effort to expand its operations in Beijing as well as the vast Chinese market.

As part of its sponsorship of the Beijing Olympics, Samsung will provide VIP customers thousands of mobile phones during the event, said the sources. Some of the mobile phones will allow customers directly watch the Olympics as they have been equipped with Samsung's new-developed application software, which is specially made for the Games.

China has been as one of Samsung's largest and most important markets in the world for a long time. It is also a major manufacturing base for Samsung.

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