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| (11/12/2005) |
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| Samsung gearing up to hit $3.5b in sales |
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Samsung Electronics, on track to achieve a targeted $3.5 billion revenue in the Middle East and Africa (MEA) region for the year 2005, said it was geared for sustaining the growth trend in 2006 with the introduction of a wider and innovative product range.
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With this year's sales surge, predicted to be around 30 per cent and in line with Samsung's aggressive global growth trend, the South Korean digital giant —which has been ranked the ‘Number One’ consumer electronics brand in the world — expects to reinforce its position in the region. "Central to our sales upswing is the record performance by Samsung mobile phone line-up, which accounts for some 15 per cent market share globally and regionally," said Richard Dong Hyuk Joo, Senior Marketing Manager, Middle East & Africa HQ, Samsung Electronics Co. Ltd., Dubai.
Propelling Samsung's sales surge this year, apart from mobile phones, are a host of technologically advanced including feature-powered PDAs, mobile phones, sophisticated software-enabled monitors, extensive line-up of flat-panel displays comprising LCDs and Plasma TVs, sleek digital devices such as MP3 players and Digital Video Camcorders. "The emergence of new GSM operators in Iran and the urgency to rollout 3G services in the UAE, Bahrain and KSA are all emerging business opportunities that Samsung is well equipped to capitalise on for future growth," he said.
In 2004 too, with annual sales revenues in the MEA region crossing $2.7 billion, Samsung maintained its year-on-year growth at 30 per cent.
Joo said Samsung's growth in the MEA region has been primarily led by its ability to successfully tap emerging markets as well as customers in developed ones with an extensive range of mobile phones, flat-panel displays and monitors. "Like this year, we will continue to focus on major markets including, the UAE, Saudi Arabia, Iran, Iraq and Pakistan to further increase our sales and market share next year. We intend to fortify our leadership position based on a combination of innovative designs, cutting-edge technology and aggressive marketing."
He said in a survey of the top 100 global brands, BusinessWeek magazine and Interbrand Consultancy have valued Samsung’s brand at $14.9 billion in 2005, making it the world’s topmost consumer electronics brand, a position long held by more entrenched player Sony. Furthermore, Samsung’s brand, now ranked at No. 20 position among the top 100 global brands, has posted the biggest gain in value of any global brand with a 186 per cent surge over the past five years.
"The management philosophy for the company is to be the first to get innovative products to the market; to put quality above all other considerations; to adapt quickly to changing needs, trends and technological evolution; and to spend on research in core technologies for long-term competitiveness."
“We intend to strengthen our position by introducing a range of innovative digital products that are consistent in line with our global vision of digital convergence. The growing Internet and PC penetration levels in the region, coupled with business and IT-friendly policies pursued by regional governments, will enable us to further build on this strong showing,” added Joo.
“The company’s strong showing in 2004 was mainly fuelled by the introduction of cutting-edge digital technologies to the region. Innovation through research forms the cornerstone of Samsung’s philosophy worldwide and our strategy revolves around giving consumers the best in terms of both technology and quality. It is this spirit of innovation that has made Samsung one of the most powerful brands in both the region and the world,” said Haris Munif, Assistant Marketing Manager, Samsung MEAHQ.
“Samsung has adopted a holistic approach to global brand communications, implementing several independent regional strategies that are guided by a unified brand image. The dramatic growth in Samsung's brand is a testimony to the company's investments in integrated global advertising and marketing initiatives, including its continued partnership with international events such as the Olympic Games, FIFA Youth Championship, Dubai Desert Classic and Samsung Running Festival,” concluded Munif.
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