June 19, 2001 in Social Responsibility News

SAMSUNG SDI concludes on a strategic alliance with Palm

In its bid to gain a stronger foothold in the global mobile market, Samsung SDI (CEO & President: Soon-taek Kim) has entered into a non-binding Memorandum of Understanding (MOU) with Palm, Inc. (President: Mr. Carl Yankowski), a pioneer in the field of mobile and wireless Internet solutions and a leading provider of handheld solutions.

The two parties signed the MOU to form a strategic alliance (U.S local current time 15th/ Korea local current time 16th) at the Sheraton Hotel in Los Angeles. The signing ceremony was attended by up to 20 persons concerned including Mr. Lee Young-jae, Executive VP of mobile division for Samsung SDI, and Mr. Dinesh Raghavan, vice president of Global Supply Chain Operations for Palm.

Under the terms of the MOU, the companies will explore jointly developing parts and components for Palm products. For its part, Samsung SDI will be a preferred supplier of parts for Palm products including components such as STN-LCD, Rechargeable Battery, Touch Panel and other components that may be developed for use in Palm products.

At the product development stage, the two companies will share technical staff members and information on samples and products in an attempt to shorten the development period as well as to offer the best quality.

Palm, which has created a frenzy of PDA throughout the world, is at the top of the global PDA market with market share estimated to stand at 70 percent.

Thanks to the new alliance with Palm, which would pave the way for Samsung SDI to build a stable sales network worldwide, Samsung expects its sales to multinational PDA businesses will rise sharply.

During last year, Samsung SDI provided as many as two million STN-LCDs to the Palm and has been in talks to supply its plastic touch panels for 3.8 inch PDA and secondary batteries, both of which were developed for the first time in South Korea.

During the signing ceremony, Lee said, "We've formed a strategic relation with the world's leading handheld producer, which would clear the way for us to make an impressive leap forward in the international mobile market."

After being stagnant for a few months due to the US-led economic slowdown, the global PDA market -- estimated to sell up to 20 million units this year -- is showing clear signs of recovery and the market size is forecast to reach 46 million units in FY 2003.

The signing ceremony means that the two companies will step up efforts to strengthen tie-up in their bid to sustain the premier position in each of their respective market segments. Hereafter, both players may become attention grabbers in the global PDA market as well as in the international display industry.

Palm is a trademark of Palm, Inc. or its subsidiaries.


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