Korea's Samsung has around 10 per cent of the market now, compared to Nokia's leading 35 percent, but the world's largest family-run conglomerate says it will rise from third place and oust Nokia with a 25 per cent global market share and US$25 billion in revenues from cell phones within the next seven years, reported Korean daily The Korea Times.
Samsung Electronics will focus on high-end cell phones with features like PDAs and GPS systems, and include GSM cell phones. Chairman Lee Kun-hee said the company would re-evaluate its strategy and develop a customized corporate structure to manage the short cell phone replacement cycle.
He described the cell phone industry as "an art in which diverse factors like technology, design, color, function and price decide success and failure, asides from the parts business," according to the Jorea Times.
Second-place market competitor Motorola's share has dropped to 15 per cent, while Samsung's has risen from 5 percent in 2000 and sixth place.
Samsung's cell phone sales are expected to grow more than 30 percent this year against 2002, Lee Ki-tae, chief executive of Samsung Electronics Telecomm Network said, reported the Korea Times.
Samsung said it expected to sell 55 million cell phones in 2003, 2.5 million above its earlier estimate. As optimistic, Lee says Samsung will be a market leader by 2006.
Play video
There are currently no comments for this post.